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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
May 2016BernsteinInitiates Coverage onOutperform
May 2016Raymond JamesUpgradesMarket PerformOutperform
Apr 2016BMO CapitalInitiates Coverage onMarket Perform

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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