UPDATE: J.P. Morgan Raises Williams Companies' PT

According to a research report published earlier today, J.P. Morgan has increased Williams Companies'

PT from $35 to $40. In the report, J.P. Morgan said, "Due to significant outperformance in the Midstream Canada & Olefins (MC&O) segment, WMB's segment profit of $598mm exceeded the JPMe of $556mm. MC&O adjusted segment profit improved 39% YoY to $103mm, driven by higher volumes and Geismar ethylene margins. WPZ adjusted segment profit of $489mm was roughly in-line with JPMe." J.P. Morgan maintains its Overweight rating on Williams Companies, which is currently trading at $33.37.