Barlow’s Research Roundup: BMO analyst’s top picks in dividend-heavy energy infrastructure sector

TOP LINKS Barlow’s Research Roundup: BMO analyst’s top picks in dividend-heavy energy infrastructure sector SCOTT BARLOW MARKET STRATEGIST PUBLISHED 55 MINUTES AGO COMMENTS SHARE SAVE FOR LATER Listen to this article Learn more about audio Log in or create a free account to listen to this article. Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow ENERGY INFRASTRUCTURE BMO analyst Ben Pham released his list of top picks in the yield-heavy energy infrastructure sector, “We are rolling forward our valuation base to 2028 vs. 2027 and introducing our 2029 estimates. Generally, target prices move lower as higher interest rate expectations/valuation friction more than offset anticipated year-over-year growth into 2028. There are no rating changes, but we are updating our Top 3 Best Ideas roster: TRP-T -0.11% decrease is now our new Top Pick (OP [’outperform]; $99 target unchanged), followed by ALA-T +0.61% increase (OP; new $60 target vs. $59), and ACO-X-T -1.20% decrease (OP; new target of $90 vs. $85). Previously, we positioned Top 3 as: KEY-T -1.42% decrease , TRP, and TA-T -2.26% decrease ” PM CARNEY’S PLAN TO SPUR INVESTMENT BMO economist Robert Kavcic assessed the importance of PM Mark Carney’s use of accounting policy to spur private sector investment, “Ottawa’s announcement that it will allow immediate expensing of major capital spending on a wider range of investment is a significant policy move that broadens out prior measures. This fits right in with the more pro-growth policy agenda and reinforces Canada’s attractiveness as a jurisdiction to invest. Note that capital investment has been firm in Canada in recent years, but growth has been mostly on the back of the public sector. Provinces and the federal government have been running large capital spending programs in areas such as health care infrastructure, education and transportation—a lot of this is playing catch-up to the population boom. The private sector has lagged, with growth relatively muted since oil prices collapsed and shuttered the 2014 capex boom. This is where a more favourable tax environment can come into play and do some rejuvenating across a wide spectrum of industries”. COPPER BULL RBC Capital Markets analyst Sam Crittenden is bullish on copper miners, “Copper prices have pulled back to $6.37/lb currently from the recent record highs ($6.74/lb on September 8) after a Reuters report suggested the U.S. is wary of…