Jefferies Downgrades Williams Companies (WMB) to Hold

Jefferies downgraded Williams Companies (NYSE: WMB) from Buy to Hold with a price target of $32.00.

Analyst Christopher Sighinolfi commented, "Last evening, Williams announced a series of transactions aimed at simplifying its corp. structure, minimizing future equity needs, reducing leverage, improving WPZ's cost of capital, and charting a path for future distribution & dividend growth. Despite the company-wide benefits, we see the moves as under-appreciating WMB's IDR position, which was valued @ ~11.75x 2017e, and limiting its LT upside potential; we trim our PT to $32 & downgrade to Hold."

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 $31.93 yesterday.

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