National Bank downgraded Brookfield Infrastructure Partners to Sector Perform from Outperform with an unchanged $32 price target. Given that geopolitical and macroeconomic headwinds are expected to persist through 2024, Brookfield Infrastructure Partners should continue building out its global footprint through deploying capital in higher growth platforms while divesting mature assets on favorable terms, the analyst tells investors in a research note. The firm adds however that with the stock rebounding 20% since its upgrade in October, National Bank is returning its rating to Neutral.
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