Wells Fargo analyst Michael Blum raised the firm’s price target on Targa Resources (TRGP) to $220 from $204 and keeps an Overweight rating on the shares. While 2025 guide is noisy due to Blackstone deal, the firm notes the company will be now be entitled to 100% of Badlands cash flow, boosting EBITDA. Volumes continue to trend higher for 2025/2026, which supports peer-leading EBITDA growth, Wells adds.
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Read More on TRGP:
- Targa Resources Buy Rating: Strong Financial Performance and Promising Future Outlook Drive Optimism
- Targa Resources Reports Record 2024 Financial Results
- Targa Resources Shines with Record Earnings and Growth
- Targa Resources price target raised to $226 from $208 at Mizuho
- Targa Resources sees FY25 adjusted EBITDA $4.65B-$4.85B
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