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Brookfield Infrastructure Partners L.P. (BIP.UN)
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Brookfield Infrastructure Corporation Class A Exchangeable Subordinate Voting Shares (BIPC)
Q: BIPC.TO is down again today and down about 16% in the last month. This drop far exceeds the drop in the other interest senstive stocks. Is there is a reason for such a large drop. Is it a buy or a sell
5i Research Answer:
Most of the decline came in the first week of August, following earnings, when several brokers lowered their target prices on the stock (cash flow did match estimates). Then, yields have also moved higher in August. It was lowered to 'reduce' at Veritas Research on Aug 4. Commentary by the company and consensus still calls for a good recovery in cash flow and revenue over the next year. Its data centre business could do very well. We would still consider it a BUY.