Argus Research analyst John Staszak maintains $Targa Resources (TRGP.US)$ with a buy rating, and adjusts the target price from $140 to $190.
According to TipRanks data, the analyst has a success rate of 59.7% and a total average return of 7.9% 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 positioned to benefit from the expansion in the Permian region, historically outpacing the growth of Permian NGLs by 2%-3%. Analysts anticipate a 6% plus growth in NGLs within the Permian, which implies an expected 8% growth for Targa leading into 2025/26.
Expectations for the third quarter results of U.S. Midstream companies are being adjusted to account for changes in commodity prices, the effects of hurricanes, and a decrease in dry gas production. It is anticipated that most firms will keep their 2024 projections stable. For one midstream company, it is recognized that despite facing some challenges from commodity price fluctuations, the company's risk on the downside is mitigated by its contracts that emphasize fixed fees and minimum fee floors, in addition to existing hedges. Furthermore, the company's substantial backlog of growth projects, particularly in the Permian region, is seen as a significant counterbalance to these challenges.
Note:
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