Knife River price target raised to $85 from $75 at Oppenheimer

Oppenheimer raised the firm’s price target on Knife River to $85 from $75 and keeps an Outperform rating on the shares. Knife River is well ahead on its margin expansion efforts and EBITDA margins could hit 20% within the next three years as the company implements dynamic pricing system wide, bids on higher-margin jobs, increases its aggregates mix, and consummates larger acquisitions, the analyst tells investors in a research note.