Williams Companies Sees Over 10% EBITDA CAGR, Power Backlog Rises to 6GW
Wells Fargo raised Williams Companies’ price target to $80 from $71 and kept an overweight rating after its Analyst Day projected more than 10% EBITDA CAGR through 2030, including 8% locked via FID projects. Williams’ power backlog rose to 6GW with $12B in active construction contracts and a $37B opportunity pipeline.
1. Analyst Day Sparks Upward Revision
On February 11, Wells Fargo analyst Praneeth Satish raised Williams Companies’ price target from $71 to $80 and maintained an overweight rating, citing the firm’s detailed growth outlook presented at its Analyst Day event.
2. Growth Projections and Backlog Expansion
Management projected over 10% five-year EBITDA CAGR from 2025 to 2030, with roughly 8% locked through final investment decision projects; it also announced approval of the “Socrates The Younger” power initiative, boosting its power backlog from 5GW to 6GW and extending contracts to 12.5 years.
3. Strategic Asset Acquisitions
Williams holds $12B in active construction contracts, a $37B opportunity pipeline and $14B shadow backlog; it is exploring acquisitions of U.S. natural gas production assets to secure gas supplies for hyperscalers and AI data center power services.