Kimbell Royalty Partners LP (KRP) saw its stock plummet 5.06% on Tuesday, underperforming the broader market. The decline came amid analysts' downgrades and lowered price targets for the energy company.
BofA analyst Noah Hungness lowered the firm's price target on Kimbell Royalty Partners to $14 from $16, maintaining an Underperform rating on the stock. Truist analyst Neal Dingmann also downgraded the stock to Hold from Buy and slashed the price target to $16 from $22, citing concerns over the company's high earnings multiple.
The analysts' actions reflect growing concerns about Kimbell Royalty Partners' valuation and earnings outlook, weighing on investor sentiment and contributing to the stock's sharp decline during the trading session.
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