JPMorgan analyst Jeremy Tonet upgraded Kinetik Holdings to Overweight from Neutral with a price target of $40, up from $38. The company has attractive asset positioning and the eliminated DRIP underpins a favorable near-term setup, the analyst tells investors in a research note. The firm says combining one of the largest Permian processing positions with ownership stakes in two prominent Permian gas takeaway pipelines and the Shin Oak pipeline “creates clear downstream integration advantages” that separate Kinetik from its SMID-cap peers.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% 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>>
See today’s best-performing stocks on TipRanks >>
Read More on KNTK:
- New Accounting & Financial Operations Risk for Kinetik – What’s the Latest?
- Kinetik Implements New Executive and Employee Severance Plans
- Kinetik Holdings price target lowered to $37 from $38 at Wells Fargo
- Kinetik Holdings sees FY24 adjusted EBITDA $905M-$960M vs. $838.8M in FY23
- Kinetik Holdings reports Q4 EPS $1.70, consensus 47c