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Kinetik Holdings price target lowered to $63 from $67 at RBC Capital

Kinetik Holdings price target lowered to $63 from $67 at RBC Capital

RBC Capital lowered the firm’s price target on Kinetik Holdings (KNTK) to $63 from $67 and keeps an Outperform rating on the shares after its Q4 results. The company looks well positioned for growth given its Permian Basin focused footprint and with Kings Landing 1 coming online in Q2, the analyst tells investors in a research note. RBC adds that it continues to see Kinetik as a “logical acquisition target” given its asset footprint in the Permian and equity NGL barrels.

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