BofA raised the firm’s price target on Knife River (KNF) to $115 from $98.50 and keeps a Buy rating on the shares after having hosted investor meetings with CEO Brian Gray and CFO Nathan Ring. The firm didn’t hear anything from Knife that would suggest a notable shift in the macro backdrop, with the firm continuing to highlight ongoing demand for public works, the analyst tells investors. While maintaining its estimates, the firm’s valuation framework framework now reflects the shift in peer valuation broadly across the materials space and is broadly in line with the wider sector peer average, the analyst noted.
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Read More on KNF:
- Knife River price target raised to $110 from $90 at DA Davidson
- Knife River price target lowered to $100 from $105 at Loop Capital
- Knife River Reports Record Revenue and Strategic Growth
- Knife River falls -12.4%
- Knife River reports Q3 EPS $2.60, consensus $2.81
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