World Kinect price target raised to $35 from $32 at Raymond James

Raymond James raised the firm’s price target on World Kinect to $35 from $32 and keeps an Outperform rating on the shares. World Kinect is a case study of companies shifting their businesses to embrace energy transition, the analyst tells investors in a research note. World Kinect’s foray into renewable and low-carbon energy solutions builds on the legacy business of wholesale petroleum fuel distribution, but it will take time for low-carbon energy to become “needle-moving,” and Raymond James believes M&A would be “helpful.”