BKV Corp. initiated with an Overweight at KeyBanc

KeyBanc initiated coverage of BKV Corp. (BKV) with an Overweight rating and $23 price target BKV is primarily a natural gas-focused exploration and production company, the analyst tells investors in a research note. The firm believes much of the value proposition for the shares stems from the company’s ability to capitalize on “three bullish secular trends,” increasing demand for natural gas, carbon capture opportunities, and the opportunity to drive higher utilization rates for its merchant power assets by selling to data centers expected to be constructed in Texas.