Gabrial Hajde, an analyst from Wells Fargo, reiterated the Buy rating on Knife River Corporation (KNF – Research Report). The associated price target was raised to $114.00.
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Gabrial Hajde has given his Buy rating due to a combination of factors that highlight Knife River Corporation’s potential for growth and profitability. The company is entering its most productive period, with the majority of its annual revenue and EBITDA still to come as the construction season begins. This timing, coupled with a significant acquisition and robust public budgets, supports the positive outlook.
Key elements contributing to the Buy rating include Knife River’s strategic advantages such as localized production and strong demand driven by federal funding. The company’s presence in rapidly growing states and its ability to make accretive acquisitions in a fragmented market further enhance its growth prospects. Additionally, the recent acquisition of Strata has led to an increase in revenue and EBITDA guidance for 2025, reinforcing the company’s strong position in the market.