BofA raised the firm’s price target on Kinetik Holdings (KNTK) to $73 from $52 and keeps a Buy rating on the shares. The firm cites Kineti’s longer term growth for the target boost, saying midstream companies are being rewarded for accretive growth capital expenditures. In addition, Kinetik’s move into New Mexico adds mid-single digit growth, the analyst tells investors in a research note.
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