Knife River price target raised to $81 from $80 at Wells Fargo

Wells Fargo raised the firm's price target on Knife River to $81 from $80 and keeps an Underweight rating on the shares. In a research note ahead of earnings for the Q2 Building Mats group, the firm says it sees Q2 pressured by higher energy costs, as pricing actions lag cost inflation. In addition, better evidence of leaner government spending ahead keeps Wells broadly cautious.