Kinetik Holdings price target lowered to $37 from $38 at Wells Fargo

Wells Fargo lowered the firm’s price target on Kinetik Holdings to $37 from $38 and keeps an Equal Weight rating on the shares. Kinetik reported Q4 results in line with expectations, and 2024 EBITDA and capital expenditures guidance was also in line with consensus, the analyst tells investors in a research note. A sale of Kinetik’s 16% interest in the Gulf Coast Express Pipeline is unlikely until there is a final investment decision on an expansion of the pipeline given challenges in ascribing a value to an expansion.