ONEOK, Inc. (NYSE:OKE) is one of the best cheap stocks to buy for beginners. In a report released on September 8, Jean Ann Salisbury from Bank of America Securities reiterated a Buy rating on ONEOK, Inc. (NYSE:OKE) and set a price target of $109.00.
The analyst based the optimistic rating on the company’s growth potential and strategic positioning, stating that management’s detailed explanation of the synergy potential stemming from recent deals reflects focus on high-return projects and cost reduction.
The synergies, expected to fall between $600 million to $1.15 billion, include considerable infrastructure connections and insurance savings that are anticipated to boost operational efficiency and bring costs down.
ONEOK, Inc. (NYSE:OKE) gathers, fractionates, processes, transports, stores, and markets natural gas. The company’s operations are divided into the following segments: Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines.
While we acknowledge the potential of OKE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.