The Globe and Mail reports in its Friday edition that National Bank analyst Patrick Kenny has boosted Brookfield Infrastructure Partners to "outperform" from "sector perform." The Globe's David Leeder writes that Mr. Kenny, however, lowered his unit target by $5 to $38 (all figures U.S.). Analysts on average target the units at $41.42. The Globe says Mr. Kenny believes the infrastructure supercycle is "just getting started." Mr. Kenny issued his rating upgrade based on reduced execution risk. Mr. Kenny says in a note: "Having already completed its 2023 asset recycling program, management is focusing its efforts for the remainder of the year toward platform integration and asset optimization while preparing to execute its 2024 $2-billion capital recycling program (previously $1.5-billion per year) highlighting that its asset base remains positioned to be selective across regions and sectors showcasing its unique intrinsic value while capitalizing on the three Ds (digitization, deglobalization and decarbonization). Meanwhile, given high interest rates and inflation, lower economic growth with potential prospects of recession, and scarcity of capital, BIP views the current environment as a 'buyer's market.'"