World Kinect (WKC) PT Lowered to $33 at Stifel

Stifel analyst Ben Nolan lowered the price target on World Kinect (NYSE: WKC) to $33.00 (from $35.00) while maintaining a Buy rating.

The analyst comments "World Kinect has been making strides with respect to increased transparency and ideally greater stability in cash flows and operations. However, like Lucy moving the ball away from Charlie Brown just before he is set to kick it, out of nowhere, the company's land division lays an egg and the aviation business posted gross profit below guidance. WKC shares are clearly not expensive at 9.7x our 2025 earnings estimate, which we expect to continue to grow. We believe that if the company can hit its volume growth targets and operating margins of 30%, we would expect there to be upside to the stock from these prices. However, yet another negative surprise this quarter does not help drive multiple expansion."

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