Kinetik Holdings price target raised to $39 from $37 at Scotiabank

Scotiabank raised the firm’s price target on Kinetik Holdings to $39 from $37 and keeps an Outperform rating on the shares after assessing the potential impact of a GCX expansion on potential divestiture proceeds to Kinetik. A notable expansion of GCX seems more likely as regional liquefied natural gas exports reach positive final investment decisions on projects along the Gulf Coast, the analyst tells investors in a research note. The firm views this as a favorable development for Kinetik.