
Targa Resources (TRGP) Stock Forecast & Price Target
Targa Resources (TRGP) Analyst Ratings
Bulls say
Targa Resources Corp has demonstrated strong operational execution, surpassing Permian gas volume growth by 4% and crude volume growth by 9% since 2020, indicating the company's effective management in a lucrative region. The increase in associated gas and NGL volumes from ongoing Permian oil production growth provides Targa with a durable throughput tailwind, contributing to robust free cash flow expansion. Additionally, Targa's strategic investments in natural gas pipeline capabilities are expected to support peer-leading EBITDA growth and enhanced financial flexibility, enabling the company to increase shareholder returns through dividends and share repurchases.
Bears say
The analysis indicates a negative outlook for Targa Resources Corp primarily due to anticipated weaknesses in commodity prices, which could lead to decreased producer activity and lower volume growth across the company's systems. Additionally, there are concerns regarding reduced demand for ethane and other natural gas liquids, potentially resulting in diminished pricing and margins that would affect cash flows and project returns. Lastly, execution risks associated with new projects, compounded by limited pipeline capacity to support demand and persistently low natural gas prices, exacerbate the company’s forecast challenges.
This aggregate rating is based on analysts' research of Targa Resources and is not a guaranteed prediction by Public.com or investment advice.
Targa Resources (TRGP) Analyst Forecast & Price Prediction
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