Williams Companies (WMB) PT Raised to $36 at Argus

Argus reiterated a Buy rating and bumped its price target on Williams Companies (NYSE: WMB) to $36.00 (from $31.00).

The firm notes since the termination of the merger agreement with Energy Transfer Equity on June 27, WMB shares have risen more than 50%.

"We believe the run-up reflects expectations for continued strong demand for natural gas, both from commercial and residential customers; the company’s opportunities to expand its natural gas assets; and recent activist interest in the shares," the analyst stated.

They are retaining their 2016 EPS estimate of $0.74 and 2017 estimate of $1.15, implying growth of 55%.

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 $30.63 yesterday.

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