Targa Resources (TRGP) Stock Forecast & Price Target

$202.91 -0.50 (-0.25%)

(As of 01:22 PM 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 15 Analyst Ratings

Sell
0

Hold
1

Buy
14

Based on 15 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 15 analysts, 1 has given a hold rating, 13 have given a buy rating, and 1 has given a strong buy rating for TRGP.

Consensus Price Target

$176.50
-13.02% Downside

According to the 15 analysts' twelve-month price targets for Targa Resources, the average price target is $176.50. The highest price target for TRGP is $246.00, while the lowest price target for TRGP is $112.00. The average price target represents a forecasted downside of -13.02% from the current price of $202.91.

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TRGP Analyst Ratings Over Time

Type	Current Forecast 11/28/23 to 11/27/24	1 Month Ago 10/29/23 to 10/28/24	3 Months Ago 8/30/23 to 8/29/24	1 Year Ago 11/28/22 to 11/28/23
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)	13 Buy rating(s)	13 Buy rating(s)	12 Buy rating(s)
Hold	1 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	$176.50	$152.79	$140.54	$104.00
Forecasted Upside	-13.02% Downside	-7.23% Downside	-3.92% Downside	18.86% 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	3.00	2.62	2.50
Consensus Rating	Buy	Moderate Buy	Moderate Buy
Predicted Upside	-13.13% Downside	1,427.00% Upside	6.57% Upside
News Sentiment Rating	Positive News See Recent TRGP News	Positive 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
11/26/2024	US Capital Advisors 5 of 5 stars	J. Carreker Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Moderate Buy ➝ Hold
11/20/2024	Stifel Nicolaus 4 of 5 stars		Boost Target	Buy ➝ Buy	$190.00 ➝ $224.00	+10.01%
11/15/2024	Truist Financial 2 of 5 stars		Boost Target	Buy ➝ Buy	$175.00 ➝ $225.00	+15.63%
11/15/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$182.00 ➝ $246.00	+26.42%
11/11/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$172.00 ➝ $199.00	+3.17%
11/6/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$153.00 ➝ $190.00	+1.69%
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.
10/25/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$173.00 ➝ $202.00	+19.83%
10/17/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$182.00	+11.91%
10/15/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		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
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%
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 Wednesday at 01:32 PM 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 Friday, November 22, 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.:

The company recently reported earnings of $1.75 per share, exceeding analysts' expectations of $1.58, indicating strong financial performance.
Targa Resources Corp. has a robust market capitalization of approximately $44.23 billion, reflecting its significant presence in the pipeline industry.
With a current stock price of $202.84, the stock has shown resilience and growth potential, having reached a 1-year high of $205.20.
The company has a return on equity of 27.59%, which suggests effective management and profitability relative to shareholder equity.
Institutional investors own 92.13% of Targa Resources Corp., indicating strong confidence from large financial entities in the company's future prospects.

Targa Resources
Bear Case

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

The company has a high debt-to-equity ratio of 3.05, which may indicate potential financial risk and reliance on debt financing.
Recent quarterly revenue of $3.85 billion fell short of the consensus estimate of $4.24 billion, suggesting challenges in meeting market expectations.
The stock has a price-to-earnings (P/E) ratio of 36.82, which may be considered high, indicating that the stock could be overvalued compared to its earnings.
Despite a strong performance, the stock price has fluctuated significantly, with a 1-year low of $81.03, highlighting potential volatility.
The company’s quick ratio of 0.61 suggests that it may struggle to meet short-term liabilities, which could be a concern for liquidity.

TRGP Forecast - Frequently Asked Questions

: According to the research reports of 15 Wall Street equities research analysts, the average twelve-month stock price forecast for Targa Resources is $176.50, with a high forecast of $246.00 and a low forecast of $112.00.
: 15 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Targa Resources in the last twelve months. There is currently 1 hold rating, 13 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" TRGP shares.
: According to analysts, Targa Resources's stock has a predicted downside of -13.02% based on their 12-month stock forecasts.
: Over the previous 90 days, Targa Resources's stock had 1 upgrade and 1 downgrade by analysts.
: Targa Resources has been rated by research analysts at Argus, Bank of America, Barclays, Morgan Stanley, Royal Bank of Canada, Stifel Nicolaus, The Goldman Sachs Group, Truist Financial, UBS Group, US Capital Advisors, 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 11/27/2024 by MarketBeat.com Staff

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Targa Resources (TRGP) Stock Forecast & Price Target