RBC Capital Believes Brookfield Infrastructure (NYSE: BIP) Still Has Room to Grow

By Carrie Williams

In a report released yesterday, Robert Kwan from RBC Capital reiterated a Buy rating on Brookfield Infrastructure (NYSE: BIP), with a price target of $44. The company’s shares closed yesterday at $40.15, close to its 52-week high of $41.33.

Kwan has an average return of 29.6% when recommending Brookfield Infrastructure.

According to TipRanks.com, Kwan is ranked #58 out of 4570 analysts.

Brookfield Infrastructure has an analyst consensus of Moderate Buy, with a price target consensus of $42.

Based on Brookfield Infrastructure’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $656 million and GAAP net loss of $2 million. In comparison, last year the company earned revenue of $454 million and had a net profit of $43 million.

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Brookfield Infrastructure Partners LP owns and operates global infrastructure assets that generates cash flows and requires minimal capital expenditures. Its business is carried out through the following segments: Utilities, Transport, Energy, and Communications Infrastructure. The Utilities segment refers to the regulated businesses such as regulated terminal, electricity transmission, and regulated distribution. The Transport segment include, rail, toll roads, and ports that provide transportation, storage, and handling services for freight, bulk commodities, and passengers through road, toll roads, and ports. The Energy segment deals with district energy, and transmission, distribution, and storage operations. The Communications Infrastructure segment provides services and infrastructure to the media and telecom sector such as tower infrastructure operations. The company was founded in July 1905 and is headquartered in Hamilton, Bermuda.