Kinetik Holdings price target raised to $42 from $38 at Scotiabank

Scotiabank analyst Tristan Richardson raised the firm’s price target on Kinetik Holdings to $42 from $38 and keeps an Outperform rating on the shares. The company’s acquisition of Durango increased Kinetik’s processing capacity by 25% and, when combined with the sale of GCX, was de-levering, accretive, and set up the stock as a significant mover, the analyst tells investors. The firm notes it sees baseline accretion and near-term outlook strength.