Kinder Morgan price target raised to $36 from $29 at Argus

Argus raised the firm’s price target on Kinder Morgan (KMI) to $36 from $29 and keeps a Buy rating on the shares after its Q4 earnings beat. The outperformance was mostly attributable to raised earnings from the Natural Gas Pipelines business with higher volumes and expansion project contributions, Terminals segments operating with higher utilization rates and expansion projects, and Products Pipelines division’s refined products volumes, the analyst tells investors in a research note.