Scotiabank Constructive on The Williams Companies (WMB) Amid Broader Reset of Energy Infrastructure Valuations

The Williams Companies, Inc. (NYSE:WMB) is included in our list of the best AI energy stocks to buy now.

On January 16, 2026, The Williams Companies, Inc. (NYSE:WMB) saw Scotiabank raise its price target from $61 to $66, while reiterating a ‘Sector Perform’ rating. The update came amid a broader reset of Energy Infrastructure valuations, citing structural tailwinds from rising power demand and accelerating LNG exports. This setup is expanding long-term opportunities for gas infrastructure operators such as The Williams Companies, Inc. (NYSE:WMB).

Meanwhile, on January 12, 2026, a more project-specific catalyst was highlighted. UBS reiterated its ‘Buy’ rating on The Williams Companies, Inc. (NYSE:WMB) with a $78 price target, citing accelerating progress on two major pipeline developments.

Firstly, the Northeast Supply Enhancement project has received key water permits, which will help the company meet its target in-service date of Q4 2027. The investment firm estimates roughly $150 million in incremental EBITDA at a 6.0x-7.0x build multiple, pending remaining approvals.

On the other hand, the Constitution pipeline is expected to add about $180 million in EBITDA. The Williams Companies, Inc. (NYSE:WMB) expects construction to begin in the fourth quarter of 2026, with service expected by April 2028.

The Williams Companies, Inc. (NYSE:WMB) is focused on operating natural gas gathering, processing, and pipeline infrastructure across the U.S. The company owns and develops large-scale transmission assets that support power generation, LNG exports, and domestic energy demand.

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Disclosure: None.