Kinetik Holdings price target lowered to $54 from $57 at Scotiabank

Scotiabank lowered the firm’s price target on Kinetik Holdings (KNTK) to $54 from $57 and keeps an Outperform rating on the shares. The firm continues to see the ongoing volatility in equities as a disconnect between estimated intrinsic value and current trading price of the underlying cash flows, especially for names with significant exposure to the Permian, the analyst tells investors.