Targa Resources (TRGP) PT Raised to $265 at Wolfe Research following management meetings

Wolfe Research analyst Keith Stanley raised the price target on Targa Resources (NYSE: TRGP) to $265.00 (from $255.00) while maintaining a Outperform rating.

The analyst commented, "We hosted TRGP CEO Matt Meloy, Treasurer Joel Thomas, and IR Sanjay Lad for meetings with Boston investors. We come away more confident on the growth outlook and TRGP's competitive advantage from its supply-driven business model and scaled first-mover position in New Mexico... We raise our 2026E slightly on higher marketing given a now 20-day streak of meaningfully negative Waha gas prices and some potential export upside w/ Iran. We raise our 2027-28E modestly on slightly higher volumes based on our mgmt. discussion. Raise target to $265/share on higher estimates."

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