Kinetik Holdings price target raised to $51 from $50 at Jefferies

Jefferies analyst Julien Dumoulin-Smith raised the firm’s price target on Kinetik Holdings (KNTK) to $51 from $50 and keeps a Hold rating on the shares. The company’s results once again beat expectations, “proving Waha marketing as a more than sufficient offset to Waha curtailments,” the analyst tells investors. While the firm believes guidance is conservative following the Q1 beat and Q2 upside, it thinks this is understood by the market and believes the Street “wants to see a true volume inflection before getting more constructive.”