In a report released yesterday, Gabrial Hajde from Wells Fargo reiterated a Buy rating on Knife River Corporation, with a price target of $97.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Gabrial Hajde has given his Buy rating due to a combination of factors that suggest a positive outlook for Knife River Corporation despite recent challenges. The company faced significant weather-related disruptions and project delays in Oregon, which impacted their Q2 performance. However, these issues are considered temporary, and the company has a record backlog that indicates strong future potential, particularly looking towards 2026.
Management’s focus on operational improvements and strategic acquisitions further supports the positive rating. The company has been actively pursuing bolt-on acquisitions, which are expected to enhance its growth trajectory. Additionally, while the company’s guidance for 2025 has been adjusted downward due to these temporary setbacks, the long-term outlook remains strong, with expectations of improved performance as conditions normalize.
In another report released on August 6, Bank of America Securities also reiterated a Buy rating on the stock with a $115.00 price target.