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.

While we acknowledge the potential of WMB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.