Raymond James raises Targa Resources stock price target on Permian growth
Raymond James raised its price target on Targa Resources (NYSE:TRGP) to $344 from $340, citing Permian growth. The company reported Q3 2026 adjusted EBITDA of $1.504B, above estimates, and raised 2026 guidance. TRGP's stock has a 1.75% yield and a 78% return over the past year, though it may be trading above fair value.
How this was made
The 30-second read
Why it matters
The upgrade could attract new buying interest and support the stock's recent rally.
Market read
Analyst price‑target raise provides a fresh catalyst for TRGP, potentially influencing short‑term trading decisions.
What to watch
Potential downside from lower LPG export margins and marketing segment weakness.
Background
Raymond James upgraded Targa Resources to Strong Buy with a new $344 price target after the company posted Q3 2026 results above estimates and raised guidance.
Ticker impact
Raymond James raised its price target on Targa Resources to $344, citing double‑digit volume growth in the Permian and upgraded 2026 guidance.
likely upward pressure as the market prices in the higher target and guidance
The new target and guidance are fresh analyst insights that can drive buying interest.
Market effects
Positive outlook for midstream energy firms with Permian exposure.
U.S. energy sector may see modest gains.
Limited to investors tracking U.S. energy infrastructure.
Counterpoint
The higher target may already be priced in given recent strong price performance.
Key entities
- companyTarga Resources
U.S. midstream energy firm (NYSE:TRGP).
- analyst_firmRaymond James
Equity research firm issuing the upgrade.
