Oneok price target lowered to $96 from $100 at Scotiabank

Scotiabank lowered the firm’s price target on Oneok (OKE) to $96 from $100 and keeps an Outperform rating on the shares. The firm is refreshing its valuation analysis for U.S. Midstream stocks under its coverage to incorporate Q1 results, the analyst tells investors. While not much has changed overall since the firm’s last iteration, dislocations between current price, implied values, and price targets persist in certain names.