Wells Fargo Upgrades Knife River Corp. (KNF) to Overweight

Wells Fargo analyst Timna Tanners upgraded Knife River Corp. (NYSE: KNF) from Equal Weight to Overweight with a price target of $75.00.

The analyst comments: "We upgrade KNF to Overweight from Equal Weight after significant underperformance to peers in recent wks. While OR's governor has not signed its transport bill, we think this is imminent and not meaningful to an expected mid 2026E state recovery.

After substantial underperformance in recent wks since our launch, we upgrade to Overweight, as we believe concerns over stagnant road spending in Oregon are overdone. While Oregon has been a drag on results, the state legislature in late Sept signed a bill to restore transportation funding. It awaits a signature by Gov. Kotek, but we think her more than one-month delay is just political and won't meaningfully delay a recovery beyond mid 2026E given typical seasonality."

For an analyst ratings summary and ratings history on Knife River Corp. click here. For more ratings news on Knife River Corp. click here.

Shares of Knife River Corp. closed at $61.11 yesterday.

You May Also Be Interested In

• Freedom Broker Upgrades Serve Robotics (SERV) to Buy
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating