TRGP
Another analyst checkmark
Targa Resources got a fresh thumbs-up from Truist Financial, which lifted its price target to $285 from $279 and kept the stock at Buy. That works out to roughly 16.8% upside from the prior close — not exactly a moonshot, but enough to keep the “this still has legs” crowd interested.
Wall Street is still in the green camp
Truist isn’t alone here. The analyst crowd already has Targa sitting at a Moderate Buy, with 14 Buy ratings against 3 Hold calls and an average target of $257.14. In other words: the market’s not treating TRGP like a sleepy utility; it’s treating it more like a cash-generating machine with a little swagger.
Why investors care
This matters because Targa has already been doing the job sheet says it should:
- It beat EPS expectations at $2.51 vs. $2.35
- Revenue came in a touch light at $4.06 billion vs. $4.12 billion expected
- The stock opened around $244.09, so analysts are still seeing more upside from here
That mix — earnings beat, small revenue miss, and continued analyst enthusiasm — suggests the market is still willing to pay attention to the company’s profitability story, not just top-line growth.
The usual Wall Street caveat
There’s also a little bit of “don’t get too comfy” in the background: insiders sold about $24.7 million worth of stock over the last three months, and institutional ownership sits around 92%. That doesn’t scream panic, but it does remind you that even the bullish story has a few moving parts.
Big picture: Truist’s higher target doesn’t rewrite the Targa story — it just adds another analyst stamp saying the pipeline names still have gas in the tank.