RBC Capital Starts Kinetik Holdings, Inc. (KNTK) at Outperform, 'view KNTK as a logical acquisition target'

RBC Capital analyst Elvira Scotto initiates coverage on Kinetik Holdings, Inc. (NASDAQ: KNTK) with a Outperform rating and a price target of $40.00.

The analyst commented: "We initiate coverage of Kinetik Holdings Inc. with an Outperform rating and $40 price target. Kinetik is a pure-play Permian Basin focused midstream company that we believe is well positioned for growth. We expect KNTK to continue to gain share given its high quality assets and pipeline connectivity. In addition, we believe KNTK is poised to generate meaningful free cash flow growth in 2024 and continue to improve its balance sheet. Finally, given the consolidation trend in midstream, we view KNTK as a logical acquisition target."

For an analyst ratings summary and ratings history on Kinetik Holdings, Inc. click here. For more ratings news on Kinetik Holdings, Inc. click here.

Shares of Kinetik Holdings, Inc. closed at $34.96 yesterday.

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