Truist analyst Neal Dingmann raised the firm’s price target on Targa Resources (TRGP) to $235 from $220 and keeps a Buy rating on the shares. The company has billions of dollars of largely fee-based projects in the hopper that will add over 1.7 Bcf/d of gas processing capacity in the Permian and over 1 MMBbl/d NGL transportation, fractionation, and export capacity, boosting earnings and free cash flow this year and next, the analyst tells investors in a research note.
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Read More on TRGP:
- Targa Resources price target raised to $244 from $202 at Morgan Stanley
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- Targa Resources price target raised to $227 from $218 at Citi
- Targa Resources price target raised to $220 from $204 at Wells Fargo
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