Jefferies analyst Robert Mosca raised the price target on Williams Companies (NYSE: WMB) to $83.00 (from $81.00) while maintaining a Buy rating.

The analyst comments "Investor focus has shifted from long-term CAGR to proof of Power Innovation execution, with new FIDs / positive datapoints the key catalyst. We expect a straightforward 1Q26 print, with core segments largely flat q/q and potential one-time upside at Sequent from Winter Storm Fern. Valuation remains attractive, and while the market awaits clearer backlog conversion, our continued confidence in the PI opportunity keeps risk/reward compelling, in our view."