Analyst Spiro M. Dounis from Citi reiterated a Buy rating on Williams Co and increased the price target to $70.00 from $65.00.
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Spiro M. Dounis has given his Buy rating due to a combination of factors that highlight the promising growth prospects of Williams Co. The target price for the company’s stock has been increased to $70, reflecting a positive outlook driven by new power generation projects and the Louisiana LNG project. These initiatives are expected to contribute significantly to the company’s capital opportunities, which could reach approximately $40 billion over the next decade.
Williams Co. has demonstrated a strong historical EBITDA growth rate of 9%, and the company is positioned to potentially achieve a 10% compound annual growth rate through 2030. The upcoming Analyst Day is anticipated to provide further insights into the company’s medium-term and long-term growth strategies, with expectations of a medium-term growth rate of around 10% and a long-term growth rate of 6-8%. These growth projections, supported by strategic projects and a robust balance sheet, underpin the Buy rating assigned by Dounis.
In another report released on November 11, RBC Capital also reiterated a Buy rating on the stock with a $75.00 price target.
WMB’s price has also changed slightly for the past six months – from $57.130 to $60.430, which is a 5.78% increase.