Kinetik Holdings upgraded to Buy from Neutral at Citi

Citi analyst Spiro Dounis upgraded Kinetik Holdings (KNTK) to Buy from Neutral with a price target of $55, down from $58. Following an over 20% decline in the stock price, Kinetik’s risk/return proposition is now attractive, the analyst tells investors in a research note. The firm believes the company is “uniquely positioned” to grow EBITDA 10% annually through 2029 without much assistance from Permian Basin volume growth. Citi also expects Kinetik to deploy and exhaust its new $500M share repurchase program by the end of fiscal 2027, if not sooner.