Citi analyst Spiro Dounis raised the firm’s price target on Targa Resources (TRGP) to $262 from $200 and keeps a Buy rating on the shares. The firm applies a higher multiple to reflect accelerated growth in 2027 and later after the company pointed to $4.5B of 2026 growth capex, which Citi says is over $1B higher than expected.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TRGP:
- Targa Resources price target raised to $220 from $192 at TD Cowen
- Balanced Risk-Reward Amid Growth Upside and Valuation Concerns Justifies Hold Rating on Targa
- Targa Resources Signals Robust Growth in Earnings Call
- Targa Resources price target raised to $242 from $196 at Goldman Sachs
- Targa Resources price target raised to $243 from $213 at Stifel