In a report released today, Manav Gupta from UBS maintained a Buy rating on Targa Resources, with a price target of $280.00.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Manav Gupta has given his Buy rating due to a combination of factors tied to Targa Resources’ expanding growth pipeline and earnings power. The company is rolling out eight new plants over the next two years, adding meaningful processing and NGL capacity, while stronger producer volume forecasts in the Delaware basin further reinforce confidence in its long-term growth trajectory.
He also highlights management’s expectation for adjusted EBITDA to exceed $6 billion post-Speedway, supported by solid free cash flow generation, plus a notable marketing tailwind in 2025 despite some Permian-related volatility in 2026. In addition, Gupta lifts his price target by applying a higher valuation multiple to raised 2027 EBITDA estimates, reflecting both sector-wide multiple expansion and Targa’s enhanced strategic positioning in the Permian relative to global peers.
Gupta covers the Energy sector, focusing on stocks such as Exxon Mobil, Imperial Oil, and Williams Co. According to TipRanks, Gupta has an average return of 17.4% and a 70.13% success rate on recommended stocks.
In another report released today, TD Cowen also initiated coverage with a Buy rating on the stock with a $279.00 price target.