Targa Resources Corp. (NASDAQ:TRGP) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Thursday, Stock Ratings Network reports.
The analysts wrote, “Targa Resources (TRGP) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Targa Resources Corp. in a research note to investors on Wednesday. They set a “buy” rating and a $97.00 price target on the stock. Separately, analysts at Wunderlich initiated coverage on shares of Targa Resources Corp. in a research note to investors on Wednesday, December 4th. They set a “hold” rating and a $84.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Targa Resources Corp. in a research note to investors on Wednesday, November 6th. They now have a $90.00 price target on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Targa Resources Corp. has a consensus rating of “Buy” and a consensus target price of $81.08.
Shares of Targa Resources Corp. (NASDAQ:TRGP) traded down 0.23% on Thursday, hitting $79.44. 101,606 shares of the company’s stock traded hands. Targa Resources Corp. has a 52-week low of $48.19 and a 52-week high of $82.35. The stock’s 50-day moving average is $79.09 and its 200-day moving average is $71.49. The company has a market cap of $3.363 billion and a P/E ratio of 59.86.
Targa Resources Corp. (NASDAQ:TRGP) forms the Partnership to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets.
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