Kinetik To Reiterate High End Of FY23 Guidance After Q2, Analyst Forecasts Linear Growth Trajectory
Portfolio Pulse from Nabaparna Bhattacharya
Mizuho analyst Gabriel Moreen has reiterated a Buy rating on Kinetik Holdings Inc. (NYSE:KNTK), raising the price target to $39 from $37. The analyst expects KNTK to reiterate the 'high end' of its FY23 guidance in its upcoming Q2 2023 results conference call. Moreen also forecasts a linear growth trajectory for KNTK's quarterly earnings through year-end and expects an update on the company's GCX stake sale process before September.
July 21, 2023 | 5:14 pm
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Kinetik Holdings Inc. is expected to reiterate the high end of its FY23 guidance, which may boost investor sentiment. The company's earnings are expected to show a linear growth trajectory through the end of the year.
The reiteration of the high end of FY23 guidance by Kinetik Holdings Inc. is a positive signal to investors, indicating that the company is confident in its financial performance. This, along with the expected linear growth trajectory of its earnings, could lead to an increase in the company's stock price.
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IMPORTANCE 80
RELEVANCE 100