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Fly News Breaks for January 18, 2019
OKE
Jan 18, 2019 | 07:38 EDT
SunTrust analyst Tristan Richardson initiated Oneok with a Buy rating and a price target of $72, saying the company is "one of the very few pure plays" on constrained NGL infrastructure, offering accelerating production growth in the Mid-Con and Bakken. The analyst adds that the company's "visibility to contracted cash flows from new large-scale NGL growth projects coming online in the late 2019 and 2020 timeframe warrant a premium multiple" and expects that multiple to expand with improved visibility.
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