DA Davidson raised the firm’s price target on Knife River to $68 from $58 and keeps a Buy rating on the shares after the company reported Q3 earnings, EBITDA and margins that were “significantly” ahead of expectations. The firm, which raised its estimates, believes heavy infrastructure exposure, firm market positions posturing toward platform growth/expansion and ongoing margin enhancement initiatives “all look to be earnings ‘accelerators’ in the coming years.”
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Read More on KNF:
- Knife River 5.14M share Secondary priced at $54.00
- Knife River announces offering of 5.14M shares of common stock for holders
- Knife River narrows FY23 revenue view to $2.7B- $2.8B, consensus $2.71B
- Knife River reports Q3 EPS $2.58, consensus $1.86
- KNF Earnings Report this Week: Is It a Buy, Ahead of Earnings?
