BKV Corp. initiated with a Buy at Citi

Citi analyst Scott Gruber initiated coverage of BKV Corp. (BKV) with a Buy rating and $29 price target BKV stands apart from the exploration and production industry by combining a gas production core with a growth strategy focused on power and carbon capture, the analyst tells investors in a research note. The firm says that while investor pushbacks include business complexity and risks to growth at the current valuation, the growth optionality of two BKV’s higher multiple segments “appears almost free.”