Wells Fargo raised the firm’s price target on Targa Resources (TRGP) to $207 from $205 and keeps an Overweight rating on the shares. The firm notes the company announced the bolt-on acquisitions of Stakeholder & Dovetail for $1.36B, further enhancing its leading Permian G&P and sour gas capabilities. Wells estimates the deals are about 72c/share accretive to 2026 free cash flow based on a 6-times multiple.
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Read More on TRGP:
- Targa Resources price target raised to $199 from $198 at Scotiabank
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