Wells Fargo raised the firm’s price target on Targa Resources to $109 from $105 and keeps an Overweight rating on the shares. The firm notes Q3 was in line, 2023 EBITDA guidance was maintained but trending to low end of range. Wells remains bullish as capital allocation points to more cash return to shareholders.
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Read More on TRGP:
- Targa Resources Corp. Prices $2.0 Billion Offering of Senior Notes
- Targa Resources backs 2023 adjusted EBITDA view $3.5B-$3.7B
- Targa Resources reports Q3 revenue $3.9B, consensus $4.57B
- Targa Resources Corp. Reports Third Quarter 2023 Financial Results and Announces Expectations for a 50% Year-Over-Year Increase to 2024 Common Dividend
- Is TRGP a Buy, Before Earnings?
