Scotiabank analyst Brandon Bingham lowered the firm’s price target on Kinetik Holdings (KNTK) to $53 from $55 and keeps an Outperform rating on the shares. The firm sees Plains All American’s (PAA) deal to acquire ownership stakes in EPIC Crude as generally positive for Kinetik and Plains All American, the analyst tells investors.
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Read More on KNTK:
- Kinetik Sells Stake in EPIC Crude Holdings
- Plains to buy 55% interest in EPIC Crude Holdings, transaction valued at $1.57B
- Kinetik Holdings price target lowered to $53 from $57 at Mizuho
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- Kinetik Holdings to replace Pacific Premier in S&P 600 at open on 9/2