Knife River price target raised to $80 from $67 at DA Davidson

DA Davidson raised the firm’s price target on Knife River to $80 from $67 and keeps a Buy rating on the shares after holding in-person investor meetings with its management. The discussions have left the firm more positive on both industry fundamentals and company-specific progress, the analyst tells investors in a research note. Knife River has been a great story in 2023, and this story still has legs, especially as the company’s unique profit margin drivers and a lower-risk expansion and acquisition strategy takes greater form in 2024, the firm added.