Oneok price target raised to $99 from $83 at Truist

Truist raised the firm’s price target on Oneok (OKE) to $99 from $83 and keeps a Hold rating on the shares. The company remains busy internally and externally, recently closing its Enlink/Medallion acquisition while boosting the overall company’s gathering and processing capacity, the analyst tells investors in a research note. Truist adds that its price target increase is driven by more appropriate assumptions for volumes, EBITDA multiple, and free cash flow yield.