Wells Fargo raises Knife River on better 2025 revenue outlook

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