UPDATE: Jefferies Initiates Coverage on Williams Companies on Dominant Midstream Position
In a report published Wednesday, Jefferies analyst Christopher Sighinolfi initiated coverage on Williams Companies (NYSE: WMB) with a Buy rating and $41.00 price target.
In the report, Jefferies noted, “With a sizable portfolio of North American midstream assets, affiliation with two entrenched MLPs, and $8.5B of identified growth projects through 2015, WMB is poised to remain a dominant midstream player. Acute pressure at WPZ (due to keep-whole exposure, equity overhang, and Geismar uncertainty) have pressured WMB shares; however, we believe these issues are reflected at current levels and present an attractive entry point. We initiate with a Buy.”
Williams Companies closed on Tuesday at $36.24.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.