RBC Capital analyst Elvira Scotto raised the firm’s price target on Kinder Morgan (KMI) to $26 from $24 and keeps a Sector Perform rating on the shares. The company’s Q3 results were slightly below expectations, though its longer-term prospects continue to improve on growing natural gas demand, the analyst tells investors in a research note. Importantly, given its cash flow generation and strong balance sheet, Kinder Morgan looks well positioned to finance its growth opportunities, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KMI:
- Kinder Morgan price target raised to $25 from $22 at Truist
- Kinder Morgan reinstated with a Buy at BofA
- Kinder Morgan price target raised to $27 from $22 at Wells Fargo
- Closing Bell Movers: Alcoa up 6%, Steel Dynamics up 3% after Q3 results
- KMI Earnings: Kinder Morgan Misses Top and Bottom-Line Q3 Expectations