The Globe and Mail reports in its Friday edition that Raymond James analyst Frederic Bastien has reaffirmed his "strong buy" call for Brookfield Infrastructure Partners after reviewing the company's third quarter results. The Globe's Darcy Keith writes that Mr. Bastien knocked his share target back by $5 to $40 due to the impact of higher interest rates (all figures U.S.). Analysts on average target the shares at $39.25, down from $42.33 a month ago. Mr. Bastien saw a lot of things to like in the results, including strong organic growth and 90 per cent of its debt locked in with an average maturity of seven years. Mr. Bastien says in a note: "First, embedded inflationary escalators and secured capex offer visibility into healthy organic growth over extended periods of time. Second, a healthy capital deployment run has padded the next years with built-in growth, yielding management the flexibility to pace investment activity in accordance with capital recycling successes. Third, 90 per cent of BIP's debt is locked with average maturity of seven years, providing certainty on borrowing costs well into the future. Lastly, management is backing its strong conviction in the value of the business with share buybacks."