RBC Capital raised the firm’s price target on Targa Resources (TRGP) to $270 from $260 and keeps an Outperform rating on the shares. The firm’s new price target on the stock incorporates its new commodity price forecast, the analyst tells investors in a research note. RBC add that it continues to think Targa Resources is positioned well to perform through commodity price fluctuations with upside potential if prices remain elevated, the firm added, also noting that growth projects supported by customer demand should continue to drive growth.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
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 $285 from $279 at Truist
- Targa Resources price target raised to $327 from $298 at Morgan Stanley
- Targa Resources price target raised to $255 from $226 at Barclays
- Targa Resources price target raised to $280 from $228 at UBS
- Targa Resources: Expanding Permian Growth Pipeline and Earnings Power Drives Upgraded Valuation