Kinetik Holdings upgraded to Outperform from Peer Perform at Wolfe Research

Wolfe Research upgraded Kinetik Holdings (KNTK) to Outperform from Peer Perform with a $45 price target The firm says the shares offer exposure to a Permian pure-play and re-contracting tailwinds that should drive well above average growth. While Kinetik has had a difficult year with operational issues and weaker commodity prices, the stock’s risk/reward is attractive following the year-to-date underperformance, the analyst tells investors in a research note.