BMO initiates coverage on US midstream companies amid global power shift, gas boom
19/09/2025 13:23
** BMO Capital Markets says U.S. midstream companies are best-positioned to meet increasing need for natural gas, liquefied natural gas and natural gas liquids infrastructure expansion ** Adds that global power demand shifts narrative for top picks Williams Companies WMB.N and Kinder Morgan KMI.N, which offer durable source of demand-led growth investment through at least end of the decade ** "The U.S. continues to enjoy ample natural gas production resources, which will continue to support more volumes as certain basins still support additional investment," brokerage says ** It sees early phase of demand growth, which warrants rebasing of valuation multiples to narrower discount and presents compelling opportunity for long-term investors Brokerage initiates coverage for following companies:
| Companies | Price Target | Upside to stock's last close |
| Kinder Morgan KMI.N | $32 | 15.6% |
| Williams Companies WMB.N | $66 | 9.3% |
| Targa Resources TRGP.N | $185 | 8.7% |
| Cheniere Energy LNG.N | $268 | 13.9% |
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