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UPDATE: Jefferies Downgrades Williams Partners LP on Valuation

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In a report published Thursday, Jefferies analyst Christopher Sighinolfi downgraded the rating on Williams Partners LP (NYSE: WPZ) from Buy to Hold, and lowered the price target from $55.00 to $52.00.

In the report, Jefferies noted, “With two large investors having recently achieved a mutual agreement with WMB under which each will have a representative promptly appointed to the Company's Board, we believe something transformative may be in the works. We recognize that WMB trades at a material discount to peers with similar rates of dividend growth, but believe it will not realize its full valuation potential without first restoring the health of WPZ cash flows & DCF coverage. To that end, we have contemplated various scenarios which aim to achieve this goal; however, as each is predicated on numerous sequential 'if' statements, we have not included any in our formal valuation analysis.”

Williams Partners LP closed on Wednesday at $50.31.

Latest Ratings for WPZ

DateFirmActionFromTo
Feb 2017Deutsche BankInitiates Coverage OnBuy
Jan 2017Credit SuisseInitiates Coverage OnNeutral
Jan 2017BMO CapitalUpgradesMarket PerformOutperform

View More Analyst Ratings for WPZ
View the Latest Analyst Ratings

Posted-In: Christopher Sighinolfi JefferiesAnalyst Color Downgrades Analyst Ratings

 

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