Morgan Stanley analyst Robert Kad has maintained their bullish stance on WMB stock, giving a Buy rating on October 24.
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Robert Kad has given his Buy rating due to a combination of factors that suggest a promising outlook for Williams Co. Despite the recent decline in stock price following the announcement of their involvement in an LNG export project, Kad sees this as a temporary setback. The strategic moves by Williams Co., including the divestiture of their Haynesville Shale assets and the acquisition of a stake in the Louisiana LNG project, are expected to strengthen their position in the natural gas market.
These transactions are part of Williams Co.’s broader strategy to enhance their natural gas infrastructure from wellhead to water. Kad believes that the market’s initial negative reaction was unwarranted and anticipates a reversal as more details about the projects emerge. With a price target significantly higher than the current trading price, Kad’s analysis points to substantial potential upside, making the stock an attractive buy opportunity.
According to TipRanks, Kad is a 4-star analyst with an average return of 8.2% and a 61.75% success rate. Kad covers the Energy sector, focusing on stocks such as Williams Co, Plains All American, and Kinder Morgan.
In another report released on October 24, CIBC also reiterated a Buy rating on the stock with a $68.00 price target.