Argus analyst Bill Selesky downgraded Williams to Hold from Buy without a price target. The analyst expects the supply of natural gas to exceed demand this year, and believes this will weigh on natural gas-related stocks such as Williams. The downgrade reflects a lower 2023 natural gas price forecast of $4.00 per MMbtu, down from $6.45 in 2022, the analyst tells investors in a research note.
Published first on TheFly
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