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Fly News Breaks for September 10, 2015
ETE, WMB
Sep 10, 2015 | 08:26 EDT
As noted earlier, Wells Fargo downgraded Williams (WMB) to Market Perform from Outperform. The firm is less certain that Williams will be acquired by Energy Transfer Equity (ETE), given the macro environment, although it continues to view such a deal as the most likely scenario. However, the firm thinks that if Williams rejects Energy Transfer's bid, Williams' stock could drop significantly. Moreover, if Williams accepts Energy Transfer's bid, Williams' stock will rise only modestly, Wells predicted. Wells adds that Williams' underlying fundamentals have deteriorated in recent weeks.
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