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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 08:46 EDT
As reported previously, Baird analyst Ethan Bellamy upgraded Oneok to Outperform from Neutral with a price target of $79, down from $80. The analyst said the selloff on the COVID concern is overdone, but it has given the shares a better risk/reward. Catalysts include 25%+ EBITDA growth and $900M of new projects adding 20% + growth in 2021.
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