Wells Fargo analyst Michael Blum lowered the firm’s price target on Oneok (OKE) to $82 from $90 and keeps an Equal Weight rating on the shares. The firm notes the company still expects 2026 EBITDA to grow, but withdrew specific growth rate outlook. Wells cites reduced EBITDA estimates for the price target change. Oneok trades at a discounted multiple, but oil macro and competitive risks keep the firm on the sidelines.
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