Goldman Sachs raised its price target on Kinetik Holdings (NYSE:KNTK) to $54 from $48, maintaining a Buy rating. The stock trades at $51.27, just below its 52-week high of $51.51, with a 60% gain over six months.
The firm updated estimates after Q1 2026 earnings modestly beat expectations. Stronger marketing gains offset lower Pipeline EBITDA. The PEG ratio stands at 0.14, suggesting attractive valuation.
Kinetik expects higher curtailments averaging ~220 mmcf/d for the rest of 2026, up from ~100 mmcf/d. It maintains 2026 EBITDA guidance of $950M-$1.05B.
Goldman Sachs cut EBITDA estimate to $1,023M from $1,063M. Kinetik can mitigate downside via Gulf Coast FT exposure and optimization. The firm remains above consensus on 2027-2028 EBITDA.
