Williams Cos. added to Goldman's Conviction Buy list, Hess removed

• Williams Cos. (WMB +2.2%) is upgraded to Conviction Buy from Buy at Goldman Sachs, which cites the 38% total return potential to its unchanged price target of $38.
• Goldman says the market is not appreciating WMB's "visible, low-risk" organic growth and strong free cash flow generation, TheFly.com reports.
• WMB's strong cash generation will allow the company to boost its dividends in the coming years and hit the high end of its guidance for 10%-15% annual dividend growth through 2020, the firm says.
• Goldman also removes Hess (HES -0.3%) from its Conviction Buy list.