Wells Fargo raised the firm’s price target on Knife River (KNF) to $114 from $102 and keeps an Overweight rating on the shares. The firm notes Q1 is the least meaningful quarter for Knife River, with 90% of its annual revenue and about 108% of EBITDA still ahead. With construction season ramping, a large acquisition complete and many public budgets at/near record levels, Wells remains bullish on the name.
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