Targa Resources (TRGP) PT Raised to $318 at UBS

UBS analyst Manav Gupta raised the price target on Targa Resources (NYSE: TRGP) to $318.00 (from $305.00) while maintaining a Buy rating.

The analyst commented, "We estimate a 2Q26 EBITDA of $1,440M vs. $1,403M in 1Q26, driven by strong activity levels, some curtailed volumes coming back online, and increasing demand on the export side. We estimate 2Q26 Logistics/Transportation operating margin of ~$782M (up 1% QoQ) and Gathering/Processing operating margin of $657M (down 7% QoQ). We estimate fractionation volumes of 1,224 MBbl/d (up 7% QoQ)."

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