UPDATE: Credit Suisse Downgrades Williams Companies (WMB) to Neutral

(updating comment)

Credit Suisse analyst Spiro Dounis downgraded Williams Companies (NYSE: WMB) from Outperform to Neutral with a price target of $20.00.

The analyst comments "We downgrade WMB to Neutral from Outperform following recent outperformance (+24%) vs. midstream peers. WMB warranted the outperformance, in our view. The company’s limited oil directed drilling exposure (85% of onshore drilling is gas related) and natural gas transmissions business (~40% of EBITDA) offered investors a compelling defensive energy stock. While the defensive thesis holds, we now view the risk-reward tradeoff as more balanced."

For an analyst ratings summary and ratings history on Williams Companies click here. For more ratings news on Williams Companies click here.

Shares of Williams Companies closed at $19.53 yesterday.

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