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Brookfield Infrastructure Partners 10-Year Targets
Below are the valuation targets for Brookfield Infrastructure Partners (BIP) for the next 10 years.
Our valuation targets for Brookfield Infrastructure Partners (BIP) in 2019 are:
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$52.56 (overvalued)
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$41.55 (fair value)
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$30.53 (undervalued)
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$20.52 (extreme undervalue)
The valuation targets for Brookfield Infrastructure Partners (BIP) are based on a dividend growth rate of 6.50% which is derived from the lowest calculated growth rate as indicated in Value Line Investment Survey dated October 12, 2018 and applied to Edson Gould’s Altimeter. A graphical representation of the overvalued, fair value, and undervalued levels are below.
The above Altimeter translates into the following undervalued and overvalued ranges since 2008:
10-Year Targets
| Year | Undervalued | Fair Value | Overvalued | Extreme Undervalue |
| 2018 | $28.67 | $39.01 | $49.35 | $19.27 |
| 2019 | $30.53 | $41.55 | $52.56 | $20.52 |
| 2020 | $32.52 | $44.25 | $55.97 | $21.86 |
| 2021 | $34.63 | $47.12 | $59.61 | $23.28 |
| 2022 | $36.88 | $50.19 | $63.49 | $24.79 |
| 2023 | $39.28 | $53.45 | $67.61 | $26.40 |
| 2024 | $41.83 | $56.92 | $72.01 | $28.12 |
| 2025 | $44.55 | $60.62 | $76.69 | $29.95 |
| 2026 | $47.45 | $64.56 | $81.67 | $31.89 |
| 2027 | $50.53 | $68.76 | $86.98 | $33.96 |
| 2028 | $53.82 | $73.23 | $92.64 | $36.17 |
| 2029 | $57.32 | $77.99 | $98.66 | $38.52 |
| 2030 | $61.04 | $83.06 | $105.07 | $41.03 |
| 2031 | $65.01 | $88.45 | $111.90 | $43.69 |
Observations
Based on our work, Brookfield Infrastructure Partners (BIP) has an expected price range of $34.63-$67.61 by 2021-2023. Value Line Investment Survey has targets of $40 to $55 in the 2021-2023 period.
Last updated: January 5, 2019
Posted in 10-year Targets, Altimeter, BIP
Dow’s Theory on True Value
Charles H. Dow’s version of “Only when the tide goes out do you discover who's been swimming naked.”
"...while good and bad stocks rise and fall together with general conditions, and each stock has its own independent movement, and, as the outcome of a series of advances and declines, will invariably reach an approximation to its true value from the standpoint of an investor or permanent holder (Dow, Charles H. Wall Street Journal. Review and Outlook. May 26, 1900)."
Who was Charles H. Dow?
“Charles Henry Dow was an American journalist who co-founded Dow Jones & Company with Edward Jones and Charles Bergstresser. Dow also founded The Wall Street Journal, which has become one of the most respected financial publications in the world. He also invented the Dow Jones Industrial Average as part of his research into market movements. He developed a series of principles for understanding and analyzing market behavior which later became known as Dow theory, the groundwork for technical analysis (source: Wikipedia.org).”
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“The 256-page document reprimanded the space agency's Marshall Space Flight Center in Huntsville, Ala., for trying to 'contain potentially serious problems' and for urging rocket maker Morton Thiokol Inc. to reverse its position against launching the shuttle in cold weather. 'A well structured and managed system emphasizing safety' would have detected mounting concerns about the desn of booster rocket seals and the fatal launch might have been averted, the report said. ("The Rogers Commission, calling the Challenger disaster 'an accident..." UPI Archive: Washington News, 9 June 1986. Infotrac Newsstand, Accessed 17 Dec. 2018.)”
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