Williams upgraded to Outperform at Scotiabank after analyst day

As previously reported, Scotiabank upgraded Williams (WMB) to Outperform from Sector Perform with a price target of $84, up from $66, following the company’s analyst day. Commentary and incremental detail during the presentation and subsequent Q&A session “offer a compelling growth narrative beyond what many expected,” the analyst tells investors. Williams noted its current base business is enough to drive an 8% compound annual growth rate through 2030 and “it doesn’t take much to bridge the 200 bps gap between base business and new 10%+ CAGR” given its robust backlog, the analyst added.