Update: RBC Raises Price Target on Williams to $44 From $40, Maintains Outperform Rating

MT Newswires Live06-13

(Updates with the analyst's commentary.)

RBC raised Williams' (WMB) price target to $44 from $40 while maintaining its outperform rating.

The firm's "expectation of exceeding the prior adjusted earnings before interest, taxes, depreciation, and amortization outlook midpoint" is achievable and expects Williams to benefit from "its natural gas focused strategy" in the "longer term," analysts Elvira Scotto and Chris Goehring wrote in a Thursday note.

The analysts said the company expects growth from "the upcoming Transco rate case" and received a favorable court ruling "related to dispute crossings" by the Louisiana Energy Gateway project.

Williams has an average outperform rating and a price target range of $36 to $48, according to analysts polled by Capital IQ.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 41.49, Change: -0.06, Percent Change: -0.15

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