Goldman Sachs Removes Targa Resources (TRGP) from CL-Buy List

Goldman Sachs downgraded Targa Resources (NYSE: TRGP) from Conviction Buy to Buy with a price target of $143.00 (from $170.00).

Analyst Jerren Holder said, "Continued volatile oil and NGL prices could lead to further downside risk to TRGP given its above-average commodity exposure. Although we remove TRGP from the Conviction List, we remain positive on its strong dividend outlook driven by infrastructure growth from its leading NGL positions in the Permian and Bakken shales, and US Gulf Coast. We forecast 24% dividend growth in 2015 and 20% CAGR (2014-2017)."

For an analyst ratings summary and ratings history on Targa Resources click here. For more ratings news on Targa Resources click here.

Shares of Targa Resources closed at $100.55 yesterday.

You May Also Be Interested In

• Amazon.com (AMZN) PT Raised to $215 at UBS
• TechnipFMC (FTI) PT Raised to $30 at BTIG
• Acrivon Therapeutics Inc (ACRV) PT Lowered to $22 at Jones Trading