Scotiabank upgraded Oneok to Outperform from Sector Perform with a price target of $78, up from $74, following the Magellan acquisition. With the shares off 8% recently, Oneok’s risk/reward is “compelling, particularly against large peers,” the analyst tells investors in a research note. The firm sees upside to synergy capture, leverage trajectory and free cash flow generation versus the management targets.
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- Oneok names Lyndon Taylor as chief legal counsel
- ONEOK Announces Completion of Magellan Midstream Partners Acquisition
- ONEOK Shareholders and Magellan Unitholders Approve Merger
- Oneok shareholders, Magellan unitholders approve merger
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