Targa Resources price target raised to $268 from $242 at Goldman Sachs

Goldman Sachs analyst John Mackay raised the firm’s price target on Targa Resources (TRGP) to $268 from $242 and keeps a Buy rating on the shares. The sector has outperformed year to date, driven by rotation into energy equities and disruption from Middle East tensions, with continued high stock-level dispersion expected, the analyst tells investors in a research note. Key drivers include strong U.S. natural gas demand from LNG expansion and data center power needs, potential upside in Permian supply-related gas and water activity, and a structurally improved LNG outlook, with limited expected U.S. supply response to the Iran disruption, the firm says.