Williams price target raised to $80 from $71 at Wells Fargo

Wells Fargo raised the firm’s price target on Williams (WMB) to $80 from $71 and keeps an Overweight rating on the shares. The firm notes the company beat elevated expectations heading into Analyst day. Williams guided to a five-year EBITDA CAGR of 10%-plus. Wells thinks the company can do 12% for seven years, implying a valuation of over $80/share.