Scotiabank maintains ONEOK at Sector Perform, raises price target to $97 from $96

What happened

Scotiabank kept its Sector Perform rating on ONEOK and raised its price target to $97 from $96, a 1.0% increase. The new target implies 4.8% upside from the November 2 close of $92.52.

Confirmed

Global impact / market context

A higher price target can shape how investors value future cash returns from ONEOK, nudging some to hold rather than buy. Because the rating stays Sector Perform, the analyst signals limited expected gain, which can reduce demand for the shares.

Analyst inference

Other analyst targets from the past month range from $96 to $110, placing Scotiabank at the low end. With the stock near $92.52, most of the implied upside toward $97 is already reflected, which can cap new buying interest.

Analyst inference

What to watch

1. Watch whether Scotiabank later changes its Sector Perform rating, since that rating currently signals the analyst sees ONEOK as roughly fairly valued rather than cheap. Confirmed
2. Watch for new analyst notes that raise or cut price targets, because the current $96 to $110 range shows where other firms stand relative to Scotiabank. Proposed
3. Watch whether ONEOK shares move toward the $97 target, because closing that gap would leave little upside and could shift investor positioning toward selling. Analyst inference

Evidence

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