While Q2 was challenging, companies in the U.S. Midstream sector largely maintained their FY outlooks, the analyst tells investors. Scotiabank continues to favor Permian-levered names with a preference for gas given the basin’s highest relative resiliency in a lower commodity price tape. Scotiabank raised the firm’s price target on Targa Resources (TRGP) to $201 from $197 and keeps an Outperform rating on the shares.
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