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Targa Resources price target raised to $244 from $202 at Morgan Stanley

Targa Resources price target raised to $244 from $202 at Morgan Stanley

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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