Knife River price target raised to $110 from $85 at Oppenheimer

Oppenheimer raised the firm’s price target on Knife River (KNF) to $110 from $85 and keeps an Outperform rating on the shares. The firm anticipates solid Q3 results when Knife River reports on November 4. The aggregates environment remains solid, infrastructure spending remains a tailwind, and Knife River could exceed 20% EBITDA margins over the medium-term, vs. about 16% in 2024, Oppenheimer says.