Pipeline operator Targa Resources (TRGP.N) beat fourth-quarter adjusted core profit estimates on Thursday, helped by stronger demand and higher natural gas and NGL transport volumes
Targa shares rise 1.9% to $228.38 in morning trading
<h3>ANALYSTS BULLISH ON TARGA</h3>
Raymond James (“strong buy”) raises PT to $255 from $230, says company’s strong balance sheet and cash flow still support meaningful dividend growth, opportunistic buybacks, and potential select cash mergers and acquisitions
Barclays (“neutral”) raises PT to $226 from $191, says sustained inlet volume growth, strong commercial execution, and timely, on​-​budget delivery of projects should continue to support solid performance even amid a period of elevated spending
Brokerage Stifel (“Buy”) raises PT to $243 from $213, says capex should fall as some of its largest projects enter service in late 2027
Adds that this would allow the company to return cash to shareholders either through higher dividends or share repurchases, or more likely both

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Targa Resourcesexceeded fourth-quarter profit estimates, driven by increased demand and transport volumes, leading to a 1.9% rise in shares to $228.38. Analysts are optimistic, with Raymond James raising the price target (PT) to $255, citing strong cash flow and dividend growth potential. Barclays increased its PT to $226, highlighting sustained volume growth and project execution. Stifel raised its PT to $243, noting reduced capex as major projects come online, allowing for potential shareholder returns through dividends and buybacks.

Reuters

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BUZZ-Street View: Brokerages lift Targa Resources PT after earnings beat, stronger forecast