RBC Capital lowered the firm’s price target on Kinetik Holdings (KNTK) to $46 from $52 and keeps an Outperform rating on the shares. The company’s recent Q3 results missed expectations and with ongoing macro challenges, including commodity price driven curtailments, the management also lowered its 2025 adjusted EBITDA guidance, the analyst tells investors in a research note. Challenges remain, but new Permian natural gas takeaway capacity should improve Waha pricing and help reduce curtailment activity longer-term, the firm added.
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