RBC Capital analyst Elvira Scotto raised the firm’s price target on Kinetik Holdings to $46 from $43 and keeps an Outperform rating on the shares after its Q2 earnings beat. The company has multiple projects underway in New Mexico following its acquisition of Durango, and the firm expects its Kings Landing complex projects and G&P agreements in Eddy and Lea Counties to drive growth, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KNTK:
- Kinetik Holdings price target raised to $43 from $40 at Wells Fargo
- Kinetik raises FY24 adjusted EBITDA view to $940M-$980M from $905M-$960M
- Kinetik reports Q2 EPS 54c, consensus 42c
- Kinetik Holdings reinstated with an Equal Weight at Barclays
- Kinetik Holdings price target raised to $48 from $42 at Scotiabank