RBC raises PT on pipeline operator Targa Resources

Targa Resources

27/02/2026 11:47

** RBC Capital Markets raises PT on pipeline operator Targa Resources TRGP.N to $260 from $218

** New PT represents upside of 12.4% to stock's last close

** Brokerage says it is positive on stock, citing stronger estimates and improved growth visibility that should support solid free‑cash‑flow generation despite near‑term higher capex

** "We think TRGP is positioned well for growth into 2026 and beyond, given that the planned growth projects are supported by customer demand which de-risks the capex needs," RBC Capital Markets says

** Brokerage says TRGP expects low double-digit Permian volume growth in 2026 that should drive strength across its footprint

** 21 of 23 brokerages rate stock "buy" or higher, one "hold" and one "sell"; median PT is $236 - LSEG data

** Up to last close, TRGP up 26.3% YTD

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))