Oneok price target raised to $85 from $80 at Jefferies

Jefferies raised the firm’s price target on Oneok (OKE) to $85 from $80 and keeps a Hold rating on the shares. The FY26 outlook raises “fresh questions” around Oneok’s ability to grow without commodity tailwinds, the analyst tells investors. While the equity “seems appropriately de-risked” following Tuesday’s selloff, the firm argues that “beat and raise” may not be enough to drive outperformance unless coupled with strong base G&P volume growth.