BofA analyst Noah Hungness lowered the firm’s price target on Kimbell Royalty Partners (KRP) to $12 from $14 and keeps an Underperform rating on the shares. Following the lead set by the firm’s commodity research team, the analyst lowered the Q2-Q4 2025 WTI oil deck to $57 per barrel from $64.50, noting that the firm’s house view anticipates the biggest negative impact on oil prices in Q2. Lower oil prices reduce valuations across the analyst’s coverage by an average of 25%, the firm noted.
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Read More on KRP:
- Kimbell Royalty Partners price target lowered to $18 from $20 at KeyBanc
- Kimbell Royalty Partners initiated with a Neutral at Mizuho
- Kimbell Royalty Partners downgraded to Hold from Buy at Truist
- Truist downgrades Kimbell to Hold on high earnings multiple
- Kimbell Royalty Partners price target lowered to $14 from $16 at BofA
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