Deutsche Bank Upgrades ONEOK Inc (OKE) to Hold

October 10, 2016 6:52 AM EDT
Get Alerts OKE Hot Sheet
Price: $56.59 +1.13%

Rating Summary:
    2 Buy, 12 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Deutsche Bank upgraded ONEOK Inc (NYSE: OKE) from Sell to Hold with a price target of $52.00 (from $49.00).

Analyst Kristina Kazarian said, "Our PT is based off a target yield (4.75% yield on our CY17 DPU estimate of $2.46 in recognition of more stabilized cash flows) and a DDM (7.25% discount rate and 2.0% terminal growth rate, in-line with the industry avg.). Potential upside risks: 1) Higher CF at OKS, 2) more equity issuances at OKS, 3) improvement in the commodities, and 4) resumption in dividends. Potential downside risks: 1) Lower commodities, 2) illiquid capital markets, 3) rising rates, and 4) lower guidance."

For an analyst ratings summary and ratings history on ONEOK Inc click here. For more ratings news on ONEOK Inc click here.

Shares of ONEOK Inc closed at $49.36 yesterday.

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