RBC Capital Markets raises PT on pipeline operator Targa Resources (TRGP.N) to $260 from $218
New PT represents upside of 12.4% to stock’s last close
Brokerage says it is positive on stock, citing stronger estimates and improved growth visibility that should support solid free-cash-flow generation despite near-term higher capex
“We think TRGP is positioned well for growth into 2026 and beyond, given that the planned growth projects are supported by customer demand which de-risks the capex needs,” RBC Capital Markets says
Brokerage says TRGP expects low double-digit Permian volume growth in 2026 that should drive strength across its footprint
21 of 23 brokerages rate stock “buy” or higher, one “hold” and one “sell”; median PT is $236 - LSEG data
Up to last close, TRGP up 26.3% YTD

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BUZZ-RBC raises PT on pipeline operator Targa Resources