Mizuho raises PT on pipeline operator Targa Resources

Targa Resources

19/03/2026 12:39

** Mizuho raises price target on pipeline operator Targa Resources TRGP.N to $260 from $207

** New PT represents upside of 11.1% to stock's last close

** Brokerage says it has confidence in co's Permian positioning and consistent execution on growth capex

** Faster Permian build-out and added NGL infrastructure support sustained volume growth amid geopolitical uncertainty, Mizuho says

** "We see TRGP's strong returns on capital as attractive with a balance sheet supportive of accelerating share repurchases in FY27+ as capital spending moderates," brokerage says

** 20 of 23 brokerages rate stock "buy" or higher, 2 "hold" and 1 "sell", median PT is $245.11 - LSEG data

** Up to last close, TRGP up 26.8% YTD

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))