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Morgan Stanley Upgrades ONEOK Inc (OKE) to Overweight

July 25, 2013 12:47 PM EDT Send to a Friend
Get Alerts OKE Hot Sheet
Price: $65.30 -0.38%

Rating Summary:
    6 Buy, 8 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 12 | New: 32
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Morgan Stanley upgraded ONEOK Inc (NYSE: OKE) from Equalweight to Overweight with a price target of $64.00 (from $55.00). The stock swung higher in response to news it was planning to separate its natgas distribution business. Analyst Stephen Maresca sees more upside even after Thursday's spike.

In a bull case, the stock could be worth $72, and a bear case may result in a price of $55. The $64 base case is in-line with Morgan Stanley's new price target.

Maresca thinks ONEOK will pay a materially higher dividend with growth potential of 20% through 2015.

For an analyst ratings summary and ratings history on ONEOK Inc (NYSE: OKE) click here. For more ratings news on ONEOK Inc click here.

Shares of ONEOK Inc closed at $42.83 yesterday.

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