Jefferies downgraded Kinetik Holdings (KNTK) to Hold from Buy with an unchanged price target of $43. The firm cites valuation for the downgrade. The 21% rally off the December lows leaves the shares “less compelling,” the analyst tells investors in a research note. Jefferies also expects a “muted” Q4 update from Kinetik and sees limited share catalysts in the near-term.
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Read More on KNTK:
- Kinetik Holdings downgraded to Hold from Buy at Jefferies
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