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UPDATE: J.P. Morgan Reiterates Overweight Rating, Raises PT on Williams Partners LP

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In a report published Wednesday, J.P. Morgan & Co. reiterated its Overweight rating on Williams Partners LP (NYSE: WPZ), and slightly raised its price target from $60.00 to $61.00.

J.P. Morgan noted, “We rate WPZ Overweight and establish a YE12 $61/unit price target. As one of the largest natural gas midstream service providers, WPZ possesses an expansive footprint that positions the partnership to be a major participant in the energy infrastructure buildout. We believe current price levels represent a buying opportunity as WPZ possesses attractive expansion opportunities in active areas, particularly the Marcellus. WPZ offers above-average distribution growth with conservative leverage yet trades at a discount to the peers, creating a favorable risk/reward profile, in our view.”

Williams Partners LP closed on Tuesday at $53.38.

Latest Ratings for WPZ

DateFirmActionFromTo
Feb 2015CitigroupDowngradesBuyNeutral
Jan 2015JefferiesMaintainsBuy
Nov 2014JefferiesUpgradesHoldBuy

View More Analyst Ratings for WPZ
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings

 

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