Knife River Corp’s Shares Surge Past Analyst Target: What’s Next?
Shares of Knife River Corp (Symbol: KNF) have recently topped the average analyst 12-month target price of $94.17, selling at $95.75 each. When a stock hits an analyst’s predicted price, the analyst has two options: either downgrade the stock due to valuation concerns or increase the target price. Analysts’ reactions may also hinge on the company’s performance updates, indicating whether it’s time to adjust expectations upward.
Within the Zacks coverage universe, six analysts contribute their estimates for Knife River Corp. While the average price target offers a useful guide, it comprises diverse opinions. For instance, one analyst predicts a price of $76.00, while another sets a higher target of $110.00. The overall range shows a standard deviation of $12.828, indicating varying degrees of optimism among analysts.
The purpose of seeking an average price target is to draw on collective insights, offering a more balanced view than any single expert’s outlook. With KNF exceeding the average target price of $94.17/share, it signals an opportunity for investors to reassess the company. They must decide whether $94.17 is merely a stepping stone or if the stock has reached its high point, suggesting it may be time to sell some shares. Below is a summary of the current analyst ratings for Knife River Corp:
| Recent KNF Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 6 | 6 | 6 | 6 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 1 | 1 | 1 | 1 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.29 | 1.29 | 1.29 | 1.29 |
The average rating listed above ranges from 1 for a Strong Buy to 5 for a Strong Sell. This data comes from Zacks Investment Research via Quandl.com. For the latest research report on KNF, visit Zacks.
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The views expressed here are those of the author and do not necessarily reflect those of Nasdaq, Inc.
