Analyst Jean Ann Salisbury from Bank of America Securities maintained a Buy rating on Williams Co and keeping the price target at $67.00.
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Jean Ann Salisbury has given her Buy rating due to a combination of factors that suggest a positive outlook for Williams Co. Despite the company’s second-quarter EBITDA being in line with expectations, the stock experienced a slight decline, which Salisbury attributes to investor anticipation for more significant announcements. However, she remains optimistic about the company’s future growth, particularly with the NESE precedent agreement nearing completion and management’s confidence in upcoming power projects.
Furthermore, Salisbury highlights the company’s strategic initiatives, such as the expected tariff impact being minimal and the advancement of the SESE project timeline. She acknowledges that while the backlog currently supports a 5.5% EBITDA CAGR, there is potential for growth to reach 7% with additional capital expenditures. Salisbury believes that the current stock price presents a good entry point for investors willing to be patient, as she anticipates a steady increase in project additions over the next 12-18 months.
According to TipRanks, Ann Salisbury is a 4-star analyst with an average return of 9.1% and a 63.00% success rate. Ann Salisbury covers the Energy sector, focusing on stocks such as Chevron, DT Midstream, and Kinder Morgan.
In another report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $64.00 price target.