Targa Resources (TRGP) Stock Forecast & Price Target

$165.83

+0.71 (+0.43%)

(As of 10/23/2024 ET)

Targa Resources - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Buy

Based on 14 Analyst Ratings

Sell
0

Hold
0

Buy
14

Based on 14 Wall Street analysts who have issued ratings for Targa Resources in the last 12 months, the stock has a consensus rating of "Buy." Out of the 14 analysts, 13 have given a buy rating, and 1 has given a strong buy rating for TRGP.

Consensus Price Target

$148.36
-10.54% Downside

According to the 14 analysts' twelve-month price targets for Targa Resources, the average price target is $148.36. The highest price target for TRGP is $182.00, while the lowest price target for TRGP is $112.00. The average price target represents a forecasted downside of -10.54% from the current price of $165.83.

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TRGP Analyst Ratings Over Time

Type	Current Forecast 10/25/23 to 10/24/24	1 Month Ago 9/25/23 to 9/24/24	3 Months Ago 7/27/23 to 7/26/24	1 Year Ago 10/25/22 to 10/25/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	13 Buy rating(s)	12 Buy rating(s)	13 Buy rating(s)	12 Buy rating(s)
Hold	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)	0 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$148.36	$141.77	$132.15	$103.09
Forecasted Upside	-10.54% Downside	-9.41% Downside	0.44% Upside	20.81% Upside
Consensus Rating	Buy	Buy	Buy	Buy

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TRGP Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

TRGP Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Targa Resources Stock vs. The Competition

Type	Targa Resources	Oils/Energy Companies	S&P 500
Consensus Rating Score	3.07	2.63	2.50
Consensus Rating	Buy	Moderate Buy	Hold
Predicted Upside	-10.54% Downside	3,234.30% Upside	8.43% Upside
News Sentiment Rating	Positive News See Recent TRGP News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/17/2024	Bank of America 4 of 5 stars		Initiated Coverage	Buy	$182.00	+11.91%
10/16/2024	Royal Bank of Canada 4 of 5 stars		Boost Target	Outperform ➝ Outperform	$153.00 ➝ $172.00	+6.02%
10/15/2024	Barclays 3 of 5 stars		Boost Target	Overweight ➝ Overweight	$155.00 ➝ $171.00	+5.57%
9/19/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$147.00 ➝ $163.00	+7.17%
9/3/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Staszak Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
8/5/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$125.00 ➝ $150.00	+20.68%
Get the Latest News and Ratings for TRGP and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Targa Resources and its competitors with MarketBeat's FREE daily newsletter.
8/5/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$124.00 ➝ $153.00	+17.17%
7/17/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Outperform ➝ Sector Outperform	$128.00 ➝ $142.00	+5.99%
7/2/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$140.00 ➝ $145.00	+10.97%
6/11/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$116.00 ➝ $147.00	+22.60%
6/10/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$134.00 ➝ $140.00	+18.63%
4/16/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$111.00 ➝ $130.00	+13.70%
4/3/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$105.00 ➝ $130.00	+14.74%
2/21/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$104.00 ➝ $112.00	+14.67%
4/21/2023	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Strong-Buy	$95.00 ➝ $100.00	+32.26%
4/20/2023	Capital One Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	W. Suki Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Overweight
2/16/2023	Seaport Res Ptn Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Sibal Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Buy

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 06:29 AM ET.

Should I Buy Targa Resources Stock? TRGP Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Wednesday, October 16, 2024. Please send any questions or comments about these Targa Resources pros and cons to contact@marketbeat.com.

Targa Resources
Bull Case

Here are some ways that investors could benefit from investing in Targa Resources Corp.:

Targa Resources Corp. stock price has been consistently increasing, reaching $162.52 on the latest trading day, indicating positive market sentiment.
Targa Resources Corp. reported strong quarterly earnings results, surpassing analysts' expectations with an EPS of $1.33, showcasing financial stability and growth potential.
Analysts have set high price targets for Targa Resources Corp., with an average target price of $141.77, suggesting further upside potential for investors.
Institutional investors hold a significant portion of Targa Resources Corp.'s stock, indicating confidence from large financial entities in the company's performance.
Recent investments by notable asset management firms like APG Asset Management N.V. in Targa Resources Corp. signal positive growth prospects and attractiveness to institutional investors.

Targa Resources
Bear Case

Investors should be bearish about investing in Targa Resources Corp. for these reasons:

Insiders at Targa Resources Corp. have been selling significant amounts of company stock, with recent sales totaling 175,534 shares valued at $26,815,021, potentially indicating lack of confidence in future performance.
Targa Resources Corp. has a relatively high debt-to-equity ratio of 2.98, which may pose risks in terms of financial leverage and stability, impacting shareholder returns.
The company's current ratio of 0.65 and quick ratio of 0.53 suggest potential liquidity challenges, which could affect Targa Resources Corp.'s ability to meet short-term financial obligations.
Targa Resources Corp. has a beta of 2.25, indicating higher volatility compared to the market average, which may lead to increased price fluctuations and risk for investors.
The company's 12-month high stock price of $163.71 may indicate a potential near-term resistance level, posing a challenge for further stock price appreciation.

TRGP Forecast - Frequently Asked Questions

: According to the research reports of 14 Wall Street equities research analysts, the average twelve-month stock price forecast for Targa Resources is $148.36, with a high forecast of $182.00 and a low forecast of $112.00.
: 14 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last twelve months. There are currently 13 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" TRGP shares.
: According to analysts, Targa Resources's stock has a predicted downside of -10.54% based on their 12-month stock forecasts.
: Over the previous 90 days, Targa Resources's stock had 1 upgrade by analysts.
: Targa Resources has been rated by research analysts at Argus, Bank of America, Barclays, Royal Bank of Canada, The Goldman Sachs Group, Truist Financial, and Wells Fargo & Company in the past 90 days.
: Analysts like Targa Resources more than other "oils/energy" companies. The consensus rating for Targa Resources is Buy while the average consensus rating for "oils/energy" companies is Moderate Buy. Learn more on how TRGP compares to other companies.

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This page (NYSE:TRGP) was last updated on 10/24/2024 by MarketBeat.com Staff

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