BUZZ - TD Cowen upgrades Targa Resources to 'Buy' and raises target price
路透社2026/09/18 10:11September 18 - ** TD Cowen upgraded pipeline operator Targa Resources (TRGP.N) from “Hold” to “Buy”
** Raised the target price from $275 to $350, representing about 22.8% upside compared to the latest closing price
** TD Cowen stated that TRGP is well positioned to benefit from the growth in wet gas output in the Permian Basin, which will support its expected industry-leading EBITDA growth
** Pointed out: “The increase in wet gas output is driven by the activity of producers in the Permian Basin and an expanding ratio of natural gas to crude oil”
** Added: “TRGP’s strong performance is due to its robust relationships with a growing base of producer customers,” and noted that as long-haul natural gas liquids pipeline construction spending is expected to moderate in 2028, the company’s free cash flow is poised to get a boost starting that year
** Out of 24 brokerages, 21 rate the stock as “Buy” or higher and 3 as “Hold”; the median target price is $314—data compiled by LSEG
** As of the previous trading day’s close, TRGP has risen 54.5% so far this year
(To facilitate non-English speakers, Reuters is providing automated translations of its report into several other languages. As automated translations may contain errors or lack necessary context, Reuters does not guarantee the accuracy of these translations and provides them for readers' convenience only. Reuters accepts no responsibility for any damage or loss arising from use of the automated translation function.)
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