Kinetik Holdings price target lowered to $40 from $48 at Wells Fargo

Wells Fargo analyst Michael Blum lowered the firm’s price target on Kinetik Holdings (KNTK) to $40 from $48 on a reduced volume forecast, while keeping an Equal Weight rating on the shares. The firm notes 2025 EBITDA guidance was reduced to reflect Q3 results and slowing producer activity.