Targa Resources (TRGP) PT Raised to $221 at RBC Capital on 'Demand Driven Growth'

RBC Capital analyst Elvira Scotto raised the price target on Targa Resources (NYSE: TRGP) to $221.00 (from $220.00) while maintaining an Outperform rating.

The analyst commented: "Demand Driven Growth; We update our estimates following TRGP's recent earnings release. TRGP recently provided 2025 Adj. EBITDA guidance above prior Street estimates and increased its capex outlook in response to producer demand. While accelerated growth spend pushes a turn to FCF positive into 2026 in our model, TRGP still expects 2025 debt leverage near its longterm target midpoint. In addition, we believe the incremental growth can translate to additional long-term returns to shareholders. We maintain our Outperform rating and increase our PT to $221 from $220."

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Cantor Fitzgerald Reiterates Overweight Rating on Merlin Labs (MRLN)
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c