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Fly News Breaks for February 26, 2020
OKE
Feb 26, 2020 | 09:16 EDT
As previously reported, Stifel analyst Selman Akyol upgraded Oneok to Buy from Hold with a price target of $82, up from $71, after the company guided for 25% EBITDA growth in FY20 compared to FY19 and said it expects another 20% growth in FY21. Additionally, the company's $2.5B capex guidance for FY20 represents a 35% year-over-year decline in spending, noted Akyol, who is favorable toward the outlook for two years of a significantly declining capex budget.
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