Intel stock extends gains after report of possible U.S. government stake
Investing.com - UBS has reiterated its Buy rating on Targa Resources (NYSE:TRGP) with a price target of $228.00. The energy infrastructure company, currently valued at $36.7 billion, has received strong analyst support, with consensus targets ranging from $157 to $244. According to InvestingPro data, the stock appears to be trading above its Fair Value.
The investment bank made minor adjustments to its second-quarter 2025 EBITDA estimate for the energy infrastructure company, revising it to $1,153 million from its previous estimate of $1,155 million.
UBS noted that Targa’s first-quarter 2025 EBITDA result was $1,179 million, indicating a slight sequential decline in the current quarter’s projection.
For the full fiscal year 2025, UBS models Targa’s EBITDA at $4,792 million, which represents a significant increase from the fiscal year 2024 result of $4,143 million.
The adjustments to the quarterly estimates were attributed primarily to inlet volumes driving the business and typical seasonal patterns affecting marketing and optimization activities during the quarter.
In other recent news, Targa Resources has been active with several notable developments. The company has priced a $1.5 billion senior notes offering, including $750 million in 4.900% Senior Notes due 2030 and $750 million in 5.650% Senior Notes due 2036. The proceeds from this offering are intended for redeeming existing notes and general corporate purposes. Meanwhile, RBC Capital raised its price target for Targa Resources to $205 from $191, maintaining an Outperform rating, citing the company’s strong fundamentals and ability to return cash to shareholders. JPMorgan also adjusted its price target for Targa Resources, increasing it to $209 from $189, while maintaining an Overweight rating, noting robust operational momentum and confidence in future guidance. However, Goldman Sachs lowered its price target to $188 from $194 due to a reduced outlook for the Permian Basin, though it still maintains a Buy rating. Additionally, TD Cowen initiated coverage with a Hold rating, highlighting Targa’s growth outlook but suggesting limited upside at current stock levels. These updates reflect a dynamic period for Targa Resources, with varying analyst perspectives and strategic financial maneuvers.
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