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RBC Capital Ups Price Target for Williams Companies to $44
Jun 13, 2024 1:43 PM - Davit Kirakosyan
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RBC Capital analysts raised their price target for Williams Companies (NYSE:WMB) to $44 from $40 while maintaining an Outperform rating on the stock. The analysts updated the model following Q1 earnings last week, expressing confidence that Williams can exceed its previous adjusted EBITDA guidance midpoint as it continues to execute on its growth project backlog.
The analysts highlighted the long-term benefits of the company's natural gas-focused strategy, especially with anticipated growth in natural gas demand driven by LNG exports and increased power demand from data centers.
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