Bank of America Securities Reiterates a Buy on ONEOK (OKE)

ONEOK, Inc. (NYSE:OKE) is one of the Top Large Cap Stocks to Buy At 52-Week Lows. On September 9, Jean Ann Salisbury from Bank of America Securities reiterated a Buy rating on ONEOK, Inc. (NYSE:OKE) with a price target of $109.

The analyst noted that their bullish sentiment is based on the management’s detailed explanation of the synergies from recent deals, which are estimated between $600 million and $1.15 billion. These savings come from insurance reductions and connecting infrastructure, lowering costs and improving efficiency.

Moreover, the analyst noted that the concerns regarding the market share of the company in the Bakken region seem less urgent, as it has a limited impact on the current pipeline. Salisbury noted the company’s strategic projects, including the LPG export terminal and Eiger Express. They believe that the projects align with a potential shift towards reducing growth capital expenditure and increasing stock buybacks post-2026.

ONEOK, Inc. (NYSE:OKE) is a midstream energy company that gathers, processes, transports, and stores natural gas and natural gas liquids.

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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.