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Fly News Breaks for May 11, 2016
WPZ, WMB
May 11, 2016 | 07:43 EDT
As noted earlier, Bernstein initiated coverage of Williams (WMB) and Williams Partners (WPZ) with Outperform ratings. The firm says that Williams and William Partners "have been unfairly punished due to expected dividend cuts." The firm's notes on the stocks is part of its initiation of the U.S. natural gas and MLP sector. The firm thinks that investors' near-term worries about the group are overdone. However, Bernstein has a neutral stance on the group over the longer term ,citing its belief that the "infrastructure boom" that had boosted the sector is ending.
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