Sep. 30 at 7:24 PM
Goldman Sachs resumed coverage of ONEOK Inc and Hess Midstream LP with Neutral ratings, while initiating coverage of Golar LNG with a Buy. The bank highlighted Golar LNG’s unique floating LNG infrastructure, strong contractual backing, and underestimated growth potential, making it a compelling opportunity in the sector.
Golar LNG has approximately 90% of its capacity under contract. Goldman projects recurring EBITDA to rise to
$800 million by 2028 from
$260 million in 2025, driven by new projects and contract updates expected to act as key catalysts in the coming quarters. ONEOK received a
$75 price target, with Goldman noting the stock’s valuation appears to be stabilizing after underperforming this year. Future upside likely depends on clarity regarding how the company plans to deploy its growing free cash flow toward shareholder returns.
Hess Midstream coverage was reinstated with a Neutral rating and a
$36 price target.
$OKE $HESM $GLNG