---
title: "Analyst Tim O’Toole Reaffirms Buy on Targa, Citing Leading Permian Infrastructure Position, Strong Cash Flow and Upside to Target Price"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/298512700.md"
description: "Stifel Nicolaus analyst Tim O’Toole reaffirmed a Buy rating on Targa Resources (TRGP), citing its leading Permian infrastructure position, integrated NGL value chain, and strong cash flow. He highlights robust fee-based EBITDA growth, a solid balance sheet, and shareholder return commitments. The valuation supports an upside to the target price, with shares trading at a modest premium to peers. Additionally, Wells Fargo maintained a Buy rating on TRGP with a $324.00 price target."
datetime: "2026-09-09T21:05:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/298512700.md)
  - [en](https://longbridge.com/en/news/298512700.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/298512700.md)
generator: "portal-rs"
---

# Analyst Tim O’Toole Reaffirms Buy on Targa, Citing Leading Permian Infrastructure Position, Strong Cash Flow and Upside to Target Price

Targa Resources (TRGP) has received a new Buy rating, initiated by Stifel Nicolaus analyst, Tim O’Toole.

Tim O’Toole has given his Buy rating due to a combination of factors that highlight Targa’s strategic positioning and growth outlook. He views Targa as a leading Permian infrastructure player with a fully integrated NGL value chain and growing natural gas footprint, supporting robust, largely fee-based EBITDA growth well into the next decade.

O’Toole also points to the company’s strong balance sheet, rising free cash flow and clear commitment to increasing shareholder returns through dividend growth and buybacks. In his valuation work, Targa’s cash flow and segment multiples justify a target price above the current level, with the shares trading at only a modest premium to peers despite superior growth and capital return visibility.

In another report released on September 2, Wells Fargo also maintained a Buy rating on the stock with a $324.00 price target.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**