Williams price target raised to $60 from $56 at RBC Capital

RBC Capital raised the firm’s price target on Williams (WMB) to $60 from $56 and keeps an Outperform rating on the shares after its in-line Q3 results and increased FY24 adjusted EBITDA outlook. The company’s potential opportunity set is attractive, including longer-term high quality, high return growth projects driven by power demand that can be additive to its existing project backlog centered around Transco expansions, the analyst tells investors in a research note. The curtailed production coming online and potential U.S. election implications could be additional tailwinds for Williams, RBC added.