Kinder Morgan (KMI) Stock Price Target Raised at Barclays
NEW YORK (TheStreet) -- Kinder Morgan's (KMI) - Get Report price target was raised to $25 from $20 at Barclays this morning. The firm has an "overweight" rating on shares of the Houston-based pipeline company.
The higher price target comes as "KMI's latest deals signal that they are being more aggressive than the market is giving them credit for," according to the analyst note.
"Investors left the stock for dead" when Kinder Morgan wasn't expected to hit the 5.0x debt/EBITDA until 2019 or 2020, Barclays said. However, the company's announcement of a number of joint ventures and asset sales could be a sign that this goal will be met "sooner rather than later."
"We think it could be reached this year-end," Barclays said.
Shares of Kinder Morgan are down by 0.24% to $20.98 in pre-market trading on Monday.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate KINDER MORGAN INC as a Hold with a ratings score of C-. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its expanding profit margins over time. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, generally higher debt management risk and disappointing return on equity.
You can view the full analysis from the report here: KMI
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