Knife River Corporation

Knife River Corporation (KNF) is rated Buy with a price target of $89/share, reflecting anticipated margin recovery and operational improvements. KNF faces near-term headwinds from low-margin backlog, adverse weather, and surging diesel prices, but expects margin improvement as these issues abate. Activist investor Starboard Value is pressuring KNF to explore a sale, with potential upside if a transaction occurs near historical multiples.

Activist investor Starboard Value sent a letter to Knife River calling for change. It said returns at the construction company have been unacceptable.

BISMARCK, N.D.--(BUSINESS WIRE)--Knife River Corporation (NYSE: KNF) (“Knife River” or the “Company”) issued the following statement in response to the letter it received today from Starboard Value LP and certain of its affiliates (“Starboard”): The Knife River Board of Directors (the “Board”) and management team welcome input from shareholders and are always open to constructive dialogue in the interest of enhancing shareholder value. The Company first learned of Starboard's investment on Sept.

NEW YORK--(BUSINESS WIRE)--Starboard Value LP (together with its affiliates, “Starboard”), a stockholder of Knife River Corporation (“Knife River” or the “Company”) (NYSE: KNF), today announced that it has delivered a letter to Brian Gray, the Company's President and Chief Executive Officer, with a copy to the Company's Board of Directors. The full text of Starboard's letter to the Company can be viewed here. About Starboard Value LP Starboard Value LP is an investment adviser with a focused an.