The Williams Companies EBITDA Growth Outlook Drives Price Targets to $81 and $89
Jefferies raised its price target on The Williams Companies by $3 to $81 on Feb. 17 and forecasted 12–13% EBITDA CAGR through FY30 with over 10% growth beyond 2030. UBS also lifted its target to $89, citing a $7.3 billion power generation backlog expected to yield $1.4 billion annual EBITDA by 2029.
1. Jefferies Raises Price Target and Growth Outlook
On February 17, Jefferies raised The Williams Companies’ price target to $81 from $78 and maintained a Buy rating after an analyst day update. The firm forecasts a 12%–13% compound annual growth rate for adjusted EBITDA through fiscal 2030 and expects the business to sustain more than 10% EBITDA growth beyond that year.
2. UBS Highlights Power Generation Backlog
Also on February 17, UBS increased its target to $89 while keeping a Buy rating and cited roughly $7.3 billion in power generation backlog within the Power Innovation segment. UBS projects this backlog will produce approximately $1.4 billion in annual EBITDA by 2029, with about 1.9 gigawatts of projects in execution by 2028 and a total pipeline of around 6 GW.
3. Q4 Earnings and 2026 Guidance
On February 10, Williams reported fourth-quarter adjusted EPS of $0.55, slightly below the $0.57 consensus, and delivered record full-year adjusted EBITDA of $7.75 billion. Management set 2026 adjusted EBITDA guidance at an $8.2 billion midpoint, supported by new pipeline transmission and offshore assets that came online in 2025 and the first Power Innovation project scheduled for second-half 2026 revenue.