Brokerage Firm Rating Update on Targa Resources (TRGP)

Targa Resources (TRGP) : The consensus on Targa Resources (TRGP) based on 13 analyst recommendation on the company stock is 2.54, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 10 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Targa Resources (TRGP) : 11 Wall Street analysts covering Targa Resources (TRGP) believe that the average level the stock could reach for the short term is $45.18. The maximum price target given is $69 and the minimum target for short term is around $32, hence the standard deviation is calculated at $9.33.


Company shares have received an average consensus rating of Hold for the current week Also, In the latest statement by the brokerage house, Stifel Nicolaus maintains its outlook on Targa Resources (NYSE:TRGP). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm raises the price target from $43 per share to $48 per share. The rating by the firm was issued on August 22, 2016.

Targa Resources (NYSE:TRGP): The stock opened at $46.01 and touched an intraday high of $47.21 on Wednesday. During the day, the stock corrected to an intraday low of $45.45, however, the bulls stepped in and pushed the price higher to close in the green at $46.81 with a gain of 1.83% for the day. The total traded volume for the day was 2,901,886. The stock had closed at $45.97 in the previous trading session.

Targa Resources Corp. (Traga), through its general and limited partner interests in Targa Resources Partners LP (the Partnership), is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products. The Company operates in two divisions Gathering and Processing and Logistics and Marketing. Gathering and Processing includes Field Gathering and Processing and Coastal Gathering and Processing. Logistics and Marketing includes Logistics Assets and Marketing and Distribution.

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