Targa Resources is Positioned Well for Growth in H2 and 2026, RBC Says

MT Newswires Live

Jul 16, 2025

Targa Resources (TRGP) is setup well for growth in H2'2025 and 2026, aided by the growth projects across its asset footprint and producer customer forecasts, RBC said in a note emailed Tuesday.

For the upcoming Q2 results, RBC said it expects adjusted earnings before interest, taxes, depreciation and amortization of $1.132 billion versus its previous forecast of $1.131 billion and the consensus estimate of $1.157 billion.

RBC expects Targa Resources to have repurchased additional shares in Q2 in addition to the $89 million that the company announced for April, and believes Targa's balance sheet can support additional buyback along with its large backlog of projects.

RBC maintained its outperform rating with a $205 price target.

Price: 169.66, Change: -2.80, Percent Change: -1.62

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