Williams price target raised to $47 from $44 at RBC Capital

RBC Capital analyst Elvira Scotto raised the firm’s price target on Williams to $47 from $44 and keeps an Outperform rating on the shares. RBC expects Williams to achieve the top half of its 2024 adjusted EBITDA guidance despite weak natural gas prices and expects the existing backlog of projects to drive growth across the business, with meaningful longer-term growth opportunities driven by power demand, the analyst tells investors in a research note.