Oneok price target raised to $93 from $91 at Truist

Truist analyst Gabe Daoud raised the firm’s price target on Oneok (OKE) to $93 from $91 and keeps a Hold rating on the shares as part of a broader research note on mid-stream energy names following Q1 results. The quarter was characterized by spread optimization driving upside financials and guidance raises, though upside on a go-forward remains less clear forward given commodity price volatility, hedges in place, and an expected narrowing of Waha/Katy/HSC spreads on the heels of 4.6Bcf/d of Permian egress expected to enter service, the analyst tells investors in a research note.