On July 19, 2025, Scotiabank analyst Brandon Bingham raised the firm’s price target on Kinder Morgan (KMI) to $28 from $27. The firm maintained a Sector Perform rating on the shares.
The analyst noted that while the company’s recently reported consolidated adjusted EBITDA was in-line, Products and CO2 segments underperformed expectations. Natural Gas and Terminals segments, however, exceeded expectations.
Scotiabank believes Haynesville is initially set to meet the LNG ramp, but anticipates more muted volume profits through the second half of 2025 into 2026. This price target adjustment reflects these updated segment-level performance expectations.
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