Oneok price target raised to $75 from $72 at Mizuho

Mizuho raised the firm’s price target on Oneok to $75 from $72 and keeps a Neutral rating on the shares. Completion of the company’s acquisition of Magellan Midstream has shifted focus to the joint company’s growth outlook and realization of expected deal synergies, the analyst tells investors in a research note. The firm says a premium valuation remains justified as the combined entity boasts newfound capital return along with a more compelling 2025 free cash flow yield of 9%.