Targa Resources price target raised to $208 from $205 at RBC Capital

RBC Capital raised the firm’s price target on Targa Resources (TRGP) to $208 from $205 and keeps an Outperform rating on the shares, updating the firm’s model after the company’s recent Q2 results. Targa saw strong Permian volumes that the firm expects to increase in the second half of FY25 and drive incremental benefits into 2026, the analyst tells investors in a research note. The customer driven growth also largely de-risks Targa’s project plans and will drive meaningful capital returns to investors over time, RBC added.