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

Reuters

Feb 20

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

** 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

ANALYSTS BULLISH ON TARGA

** 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

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))

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23:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\"><head><title>BUZZ-Street View: Brokerages lift Targa Resources PT after earnings beat, stronger forecast</title></head><body><p>** Pipeline operator Targa Resources <span>TRGP.N</span> <span>beat</span> fourth-quarter adjusted core profit estimates on Thursday, helped by stronger demand and higher natural gas and NGL transport volumes</p><p>** Targa shares rise 1.9% to $228.38 in morning trading</p><p>ANALYSTS BULLISH ON TARGA</p><p>** 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 </p><p>** 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 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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 (Reporting by Varun Sahay in Bengaluru) ((Varun.sahay@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding,dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}