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Fly News Breaks for February 26, 2020
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.
News For OKE From the Last 2 Days
Jun 3, 2020 | 10:08 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wabtec (WAB) downgraded to Neutral from Buy at Goldman Sachs with analyst Jerry Revich saying he recommends rotating into KBR (KBR). 2. Norwegian Cruise Line (NCLH) was downgraded to Underweight from Equal Weight at Morgan Stanley, while Carnival (CCL) and Royal Caribbean (RCL) were reinstated at Underweight from Equal Weight. 3. KeyCorp (KEY) downgraded to Equal Weight from Overweight at Stephens with analyst Terry McEvoy saying he is concerned that economic activity in Key's primary operating footprint will be "average," as some states in the West and Northeast more than offset positive trends in the Midwest. 4. Ecolab (ECL) downgraded to Hold from Buy at Gabelli with analyst Rosemarie Morbelli saying 2020 will prove a challenging year for the company due to COVID-19 while its medium outlook is uncertain and depends on the strength of the economic recovery through 2021. 5. Oneok (OKE) downgraded to Neutral from Buy at Citi with analyst Timm Schneider saying following the Q1 earnings season, he now estimates gathering volume declines of 20% in the Bakken and 15% in MidCon in 2020, with the MidCon declining a further 7% in 2021 while he expects Bakken volumes to flatten. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, Reference Link