Bank of America Securities Reiterates a Buy Rating on ONEOK, Inc. (OKE)

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.

Jim Cramer: ONEOK (OKE) Is the Best-Run Pipeline - Keep Buying!

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 to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than OKE and that has 100x upside potential, check out our report about this cheapest AI stock.

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