Targa Resources Partners LP Announces Monthly Distribution on Preferred Units

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Credit Suisse Downgrades Targa Resources (TRGP) to Underperform; Sees Substantial Dividend Cut

December 21, 2015 7:50 AM EST

Credit Suisse downgraded Targa Resources (NYSE: TRGP) from Outperform to Underperform with a price target of $36.00 (from $79.00).

Analyst John Edwards commented, "Assuming lower strip prices in our model indicates coverage below 1.00x and leverage above 6.00x. We see no way out of... More