Kinetik Holdings price target lowered to $58 from $60 at Wells Fargo

Wells Fargo lowered the firm’s price target on Kinetik Holdings (KNTK) to $58 from $60 and keeps an Equal Weight rating on the shares. The firm is also lowering its 2025/2026 EBITDA estimates to reflect a lower volume forecast and lowering its dividend growth rate in line with guidance. Wells sees upside potential if Kinetik can achieve a 5-year EBITDA CAGR of 10%.