BofA Securities analyst Neel Mitra maintains $Targa Resources (TRGP.US)$ with a buy rating, and adjusts the target price from $149 to $182.
According to TipRanks data, the analyst has a success rate of 77.3% and a total average return of 16.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Targa Resources (TRGP.US)$'s main analysts recently are as follows:
Targa Resources is recognised for its leverage to Permian expansion, traditionally outpacing Permian NGLs overall growth by 2%-3%. With the Permian anticipated to see over 6% NGL growth, expectations are set for Targa to achieve about 8% NGL growth leading into 2025/26.
In anticipation of Q3 results for U.S. Midstream companies, there has been a revision of financial models to account for changes in commodity prices, hurricane effects, and a decline in dry gas production. It's projected that the majority of these firms will keep their 2024 forecasts unchanged. One particular company is expected to face some commodity price challenges; however, its risk on the downside is considered 'substantially shielded' due to its contract structure that includes both fees and a fee floor, as well as existing hedges. Additionally, it's posited that this company's extensive backlog of growth projects situated in the Permian significantly surpasses any potential challenges.
Note:
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