Scotiabank increased its price target for The Williams Companies, Inc. (NYSE:WMB) from $61 to $66 on January 16, 2026. The bank kept a 'Sector Perform' rating on the stock. This adjustment occurred during a wider reevaluation of Energy Infrastructure valuations. Structural tailwinds from growing power demand and faster LNG exports were cited. The situation is creating expanded long-term opportunities for gas infrastructure operators like Williams.
Earlier, on January 12, 2026, UBS reiterated its 'Buy' rating for the company with a $78 price target. The firm pointed to accelerating progress on two significant pipeline developments as a catalyst.
For the Northeast Supply Enhancement project, key water permits have been secured. This is expected to help the company meet its planned in-service date in the fourth quarter of 2027. UBS estimates the project could generate approximately $150 million in incremental EBITDA, assuming a build multiple between 6.0x and 7.0x, pending final approvals.
Separately, the Constitution pipeline is projected to add around $180 million in EBITDA. The Williams Companies anticipates construction will start in the fourth quarter of 2026, with the pipeline expected to be in service by April 2028.
The Williams Companies, Inc. operates natural gas gathering, processing, and pipeline infrastructure across the United States. The company owns and develops large-scale transmission assets that support power generation, LNG exports, and domestic energy demand.