Morgan Stanley raised the firm’s price target on Targa Resources (TRGP) to $244 from $202 and keeps an Overweight rating on the shares. After having recently hosted meetings with Targa senior management and clients in Europe, the firm believes shares remains undervalued relative to its “sector-leading” growth profile. The firm expects outperformance in the coming quarters on execution and resulting positive EBITDA estimate revisions, the analyst tells investors.
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Read More on TRGP:
- Targa Resources price target lowered to $210 from $218 at Scotiabank
- Targa Resources Announces $2 Billion Senior Notes Offering
- Targa Resources price target raised to $227 from $218 at Citi
- Targa Resources price target raised to $220 from $204 at Wells Fargo
- Targa Resources Buy Rating: Strong Financial Performance and Promising Future Outlook Drive Optimism
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