Knife River upgraded to Overweight from Equal Weight at Wells Fargo

Wells Fargo analyst Timna Tanners upgraded Knife River (KNF) to Overweight from Equal Weight with an unchanged price target of $75. The firm cites valuation for the upgrade following the stock’s underperformance relative to peers in recent weeks. While Oregon’s governor has not signed its transport bill, this is imminent and not meaningful to an expected mid-2026 state recovery, the analyst tells investors in a research note. Wels believe concerns over stagnant road spending in Oregon are overdone.