The Globe and Mail reports in its Wednesday, Jan. 31, edition that National Bank Financial analyst Patrick Kenny sees several tailwinds likely to propel Canadian utility, pipeline and energy infrastructure stocks in 2024, predicting "robust cash flow per share growth as the M&A landscape continues to unravel." The Globe's David Leeder writes in the Eye On Equities column that Mr. Kenny has downgraded Brookfield Infrastructure Partners to "sector perform" from "outperform." Mr. Kenny has an unchanged unit target of $32 (all figures U.S.). Analysts on average target the units at $37.59. Mr. Kenny says in a note: "With over $3.5-billion of liquidity through the end of 2023 and a record $6.7-billion capital backlog, primarily underpinned by the data segment's $4.4-billion of growth projects including Brookfield's partnership with Intel for the Arizona-based semiconductor manufacturing facility (net $3.6-billion Brookfield investments), we have conservatively assumed $1.6-billion of growth capital deployed through 2024. Overall, we forecast 2027 estimated AFFO/sh of $2.55, representing a five-year CAGR [compound annual growth rate] of 6 per cent before considering any upside from M&A activity."