Wells Fargo raises Knife River on better 2025 revenue outlook

Knife River

13/05/2025 13:06

** Wells Fargo raises price target on construction materials and contracting service provider Knife River Corp KNF.N to $114 from $102, an upside of 14.6% to last close

** Says ramping of localized production and increased end-market demand with federal funding in place are key factors driving co forward

** Adds accretive acquisitions to drive growth for the co, helped by limited substitution

** Brokerage raises 2025 revenue forecast by $250 mln to $3.25-$3.45 bln

** However, it cuts annual EPS forecast to $4.30 from $4.40

** Six brokerages rate the stock "buy" or higher, two "hold" ; their median PT is $117.50- LSEG data

** As of last close, stock had fallen 2% YTD, compared with a 0.27% YTD increase in the S&P 400 Materials (Sector) index .SPMDCM

 (Reporting by Apratim Sarkar)

 ((Apratim.Sarkar@thomsonreuters.com))