Truist raised the firm’s price target on Targa Resources (TRGP) to $175 from $150 and keeps a Buy rating on the shares after its Q3 results. The continued record Permian production volumes means continued record Targa NGL transportation and fractionation volumes, as the company’s low double-digit Permian volume not only sets up for strong end to the year but also positions 2025 better than most were previously forecasting, the analyst tells investors in a research note. Targa Resources has one of the best setups next year not only with volume growth but also solid pricing and less capital expenditure, the firm added.
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Read More on TRGP:
- Targa Resources Announces Record Q3 2024 Earnings Growth
- Targa Resources reports Q3 revenue $3.86B, consensus $4.24B
- Is TRGP a Buy, Before Earnings?
- Targa Resources price target raised to $174 from $141 at Seaport Research
- Targa Resources price target raised to $202 from $173 at Morgan Stanley
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