5 Recent Spin-off Companies That Hedge Funds Are Piling Into

4. Knife River Corporation (NYSE:KNF)

Number of Hedge Fund Holders: 29

In June 2023, Knife River Corporation (NYSE:KNF) became an independent company after MDU Resources Group, Inc. (NYSE:MDU) spun off its construction materials subsidiary. Knife River Corporation (NYSE:KNF) is headquartered in North Dakota, USA.

In the last three months, Knife River Corporation (NYSE:KNF) was covered by 2 Wall Street analysts, and both maintain a Buy rating on the stock. At the time of writing on December 15, the average price target of $75 had an upside of 15.26%.

On December 8, Oppenheimer analyst Ian Zaffino increased the price target on Knife River Corporation (NYSE:KNF)’s stock to $75 from $65 and kept an Outperform rating. Among the company’s several growth drivers, the analyst mentioned its mergers and acquisitions, carrying out its EBITDA margin expansion plan, state and local infrastructure spending, etc.