UPDATE: Jefferies Initiates Coverage on Williams Partners LP on Strong Portfolio and Growth Projects
In a report published Wednesday, Jefferies analyst Christopher Sighinolfi initiated coverage on Williams Partners LP (NYSE: WPZ) with a Buy rating and $55.00 price target.
In the report, Jefferies noted, “With a strong portfolio of US-based midstream assets, a committed sponsor, and $7B of identified growth projects through 2015, WPZ is poised to remain a dominant midstream player. While its keep-whole exposure, Geismar uncertainty, and seemingly perpetual equity overhang have pressured unit prices, we believe the toughest periods are behind WPZ. Its attractive ~7% yield provides a favorable entry point and we are initiating with a Buy.”
Williams Partners LP closed on Tuesday at $49.33.
Latest Ratings for WPZ
|Sep 2014||BMO Capital||Initiates Coverage on||Market Perform|
|Jun 2014||UBS||Initiates Coverage on||Neutral|
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