Oneok price target lowered to $92 from $93 at Scotiabank

Scotiabank lowered the firm’s price target on Oneok (OKE) to $92 from $93 and keeps an Outperform rating on the shares. While Q2 was challenging, companies in the U.S. Midstream sector largely maintained their FY outlooks, the analyst tells investors. Scotiabank continues to favor Permian-levered names with a preference for gas given the basin’s highest relative resiliency in a lower commodity price tape.