Williams price target raised to $83 from $70 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Williams (WMB) to $83 from $70 and keeps an Overweight rating on the shares after having recently hosted meetings with senior management and clients in Europe. Williams is approaching an inflection point and with long-term EBITDA growth “likely to reach sector-best levels,” the firm expects a positive estimate revision cycle and multiple expansion over the coming months, the analyst tells investors.