Williams price target raised to $42 from $40 at BofA

BofA raised the firm’s price target on Williams (WMB) to $42 from $40 and keeps a Buy rating on the shares after accompanying CEO Alan Armstrong and CFO John Porter for investor meetings. Williams was able to allay concerns that several producers’ activity cuts would negatively impact FY24 guidance and “most importantly” re-iterated its core message that gas demand has grown 43% since 2013, with pipeline infrastructure only growing 25% and storage capacity 2%, the analyst tells investors. In addition, EQT Corporation (EQT) announcing that it is acquiring Equitrans Midstream (ETRN) removes a deal over-hang for Williams, the firm contends.