Targa Resources price target raised to $175 from $150 at Truist

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.