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BIP

Brookfield Infrastructure

$32.81

0.16 (0.49%)

, BAM

Brookfield

$33.69

0.27 (0.81%)

16:38
11/28/16
11/28
16:38
11/28/16
16:38

Brookfield Infrastructure announces $750M equity offering

Brookfield Infrastructure (BIP) announced that it has agreed to issue 15.625M L.P. units, on a bought deal basis, to a syndicate of underwriters, co-led by RBC Capital Markets, CIBC Capital Markets, Citibank, BofA Merrill Lynch and HSBC at a price of $32.00 per L.P. unit for gross proceeds of $500M. In addition, Brookfield Asset Management Inc. (BAM) and certain of its related entities will purchase, directly or indirectly, 8.14M redeemable partnership units of Brookfield Infrastructure's holding limited partnership at the offering price concurrent with the offering. The aggregate gross proceeds of the offering and the concurrent private placement will be $750.03M.

BIP

Brookfield Infrastructure

$32.81

0.16 (0.49%)

BAM

Brookfield

$33.69

0.27 (0.81%)

BIP Brookfield Infrastructure
$32.81

0.16 (0.49%)

06/28/16
BMOC
06/28/16
NO CHANGE
BMOC
Brookfield Infrastructure price target raised to $53 from $47 at BMO Capital
BMO Capital expects Australian regulators to approve Brookfield's Asciano transaction, and it notes that media reports have indicated that the company is buying a Peruvian toll road. Media outlets have also reported that Brookfield is in "exclusive talks" to buy a natural gas pipeline unit from Petrobras (PBR), according to the firm. BMO Capital raised its 2017 AFFO estimate for Brookfield to $3.58 from $3.14. It adds that it does not expect developments in the U.K. to have a major impact on the company's FFO over the next couple of years. BMO keeps an Outperform rating on the shares.
08/23/16
FBCO
08/23/16
INITIATION
Target $59
FBCO
Outperform
Brookfield Infrastructure reinstated with an Outperform at Credit Suisse
Credit Suisse analyst Andrew Kuske reinstated coverage on Brookfield Infrastructure with an Outperform and $59 price target.
09/26/16
RAJA
09/26/16
DOWNGRADE
Target $39
RAJA
Outperform
Brookfield Infrastructure downgraded to Outperform at Raymond James
Raymond analyst Frederic Bastien to Outperform from Strong Buy and raised its price target to $39 from $36 citing the strength in units year-to-date.
09/26/16
RBCM
09/26/16
NO CHANGE
RBCM
Brookfield Infrastructure deal solidifies distribution growth, says RBC Capital
RBC Capital analyst Robert Kwan says that Brookfield's (BIP) acquisition of gas infrastructure from Petrobras (PBR) "solidifies" its guidance for a distribution at the top end of its 11%-13% guidance. Kwan expects the FFO yields from the deal to be above the company's guidance of "low double digits" for acquisitions in developed countries. He raised his price target on the stock to $37 from $36 and keeps an Outperform rating on the shares.
BAM Brookfield
$33.69

0.27 (0.81%)

05/24/16
KBWI
05/24/16
INITIATION
Target $41
KBWI
Outperform
Brookfield initiated with an Outperform at Keefe Bruyette
Keefe Bruyette analyst Ann Dai started Brookfield Asset Management with an Outperform rating and $41 price target.
09/21/16
RBCM
09/21/16
UPGRADE
RBCM
Top Pick
Brookfield upgraded to Top Pick from Outperform at RBC Capital
09/22/16
RBCM
09/22/16
UPGRADE
RBCM
Top Pick
Brookfield upgraded on execution, valuation at RBC Capital
As noted earlier, RBC Capital upgraded Brookfield to Top Pick from Outperform. Analyst Neil Downey says that the company is executing well, while its valuation is favorable compared with other names in the sector and it has key competitive advantages. Target $41.
09/22/16
09/22/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Amazon.com (AMZN) upgraded to Buy from Hold at Argus with analyst Jim Kelleher saying he believes Amazon is currently growing and expanding margins faster than the stock price has been rising. 2. SeaWorld (SEAS) upgraded to Buy from Neutral at Citi with analyst Jason Bazinet saying the risk/reward looks attractive at current share levels. 3. Brookfield (BAM) upgraded to Top Pick from Outperform at RBC Capital with analyst Neil Downey saying the company is executing well, while its valuation is favorable compared with other names in the sector and it has key competitive advantages. 4. ON Semiconductor (ON) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Craig Hattenbach saying the Fairchild acquisition will add 16c to 2017 earnings and is less negative on ON Semiconductor shares given the upward bias to estimates. 5. Atwood Oceanics (ATW) upgraded to Neutral from Sell at Clarksons Platou. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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