Morgan Stanley resumed coverage of Oneok with an Equal Weight rating and $85 price target following its acquisition of Magellan. While calling Oneok “one of the most solid execution stories within the sector” and seeing deleveraging positioning Oneok for greater capital allocation flexibility, the analyst notes that free cash flow is “not as high as for Overweight-rated names.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on OKE:
- Bank of America Says the S&P 500 Will Hit a New Record High in 2024 — Here Are 2 Stocks to Play That Bullish Sentiment
- Enterprise and ONEOK extend fee waiver deal for ICE Midland WTI deliveries
- Oneok upgraded to Buy from Neutral at BofA
- Oneok price target raised to $76 from $69 at RBC Capital
- Oneok downgraded to Hold from Buy at Truist
