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Fly News Breaks for November 18, 2015
KMI
Nov 18, 2015 | 06:11 EDT
Goldman analyst Theodore Durbin removed Kinder Morgan from the Conviction Buy List but maintained his Buy rating and lowered his price target to $29 from $39 on shares. Durbin said Kinder Morgan reported in-line Q3 results but reduced prior annual dividend growth through 2020 to 6-10% from 10%. The analyst believes cash flow growth will take longer to materialize given balance sheet and financing pressure, potential backlog delays, and poor fundamentals but remains constructive on shares given fee based cash flows and positioning in the sector.
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