Clear Street analyst Tim Moore lowered the firm’s price target on Kinetik Holdings (KNTK) to $55 from $60 and keeps a Buy rating on the shares after the company reported September quarter profitability below the firm’s expectation due to higher costs of goods sold and operating expenses and 2025 guidance for adjusted EBITDA was lowered by 2%. The firm, which notes that it lower its adjusted EBITDA estimate by 5% for 2025 and by 2% for 2026, trims its price target to reflect the operational challenges during 2025 and the Kings Landing start delay impact.
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