Knife River initiated with an Overweight at Wells Fargo

Wells Fargo initiated coverage of Knife River (KNF) with an Overweight rating and $102 price target The firm sees “strong tailwinds” for the company given its leverage towards high-growth states with an aging infrastructure network and an attractive industry backdrop. Knife River is also taking an active approach to expand its margins through the EDGE value framework, the analyst tells investors in a research note. Wells says the company “competes in an attractive industry with structural positives.”