Deutsche Bank Starts Targa Resources (TRGP) at Buy, Strong Long-Term Growth

Deutsche Bank initiates coverage on shares of Targa Resources (NYSE: TRGP) with a Buy rating and $38 price target.

The firm believes that TRGP is well positioned for long-term growth in both of its sectors. Deutsche really likes that the company's leverage to Permian and Eagle Ford growth in East and West Texas and believes through its IDR exposure to underlying Targa Resources Partners, it provides an attractive leverage to this midstream infrastructure growth story.

Deutsche released its 2011 and 2012 EPS estimates at $1.18 and $1.42.

For more ratings news on Targa Resources click here and for the rating history of Targa Resources click here.

Shares of Targa Resources closed at $30.57 yesterday.

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