Knife River initiated with a Buy, $81 price target at BofA

As previously reported, BofA initiated coverage of Knife River with a Buy rating and $81 price target. The top 10 national producer of aggregates, ready-mix concrete, asphalt and contracting services should benefit from healthy state budgets and infrastructure spending, the analyst tells investors. Knife River has executed “very well” since being spun off from MDU Resources in June and the firm expects its turnaround to continue, the analyst added.