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Fly News Breaks for January 11, 2017
WPZ
Jan 11, 2017 | 06:41 EDT
As previously reported, Raymond James upgraded Williams Partners (WPZ) to Strong Buy with a $44 price target. Analyst Darren Horowitz said as the Williams (WMB) franchise further de-risks, he expects Williams Partners to realize more of the longer-term upside, as it is now unburdened by IDRs, has a materially lower cost of capital, a still attractive ~6% current yield, an improving balance sheet, and potential to beat its guided ~5-7% distribution/unit growth as it executes on its large suite of organic projects.
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