Targa Resources price target raised to $249 from $246 at Scotiabank

Scotiabank raised the firm’s price target on Targa Resources (TRGP) to $249 from $246 and keeps an Outperform rating on the shares. The firm is updating its price targets for U.S. Midstream stocks under its coverage, the analyst tells investors. The elevated commodity price environment is resulting to a more muted impact to FY26 earnings compared to expectations, the analyst adds. Despite the sharp increase in prices, Scotiabank maintains the view that upstream development activity likely remains unchanged this year.