Kinetik Holdings price target raised to $43 from $41 at Jefferies

Jefferies raised the firm’s price target on Kinetik Holdings (KNTK) to $43 from $41 and keeps a Buy rating on the shares. The firm cut its Q4 and FY26 adjusted EBITDA estimates on expectations for direct/indirect headwinds introduced by worse than expected Waha basis discounts and a weaker commodity price outlook. Although the firm sees downside risk to Kinetik’s FY26 outlook, it believes headwinds are temporal given near-term Permian pipeline startups and natural gas liquids recontacting uplift.