Recent Investment Analysts’ Ratings Updates for Targa Resources Partners (NGLS)
Targa Resources Partners (NASDAQ: NGLS) received a number of price target changes and ratings updates during the last week:
- Targa Resources Partners had its price target raised by analysts at RBC Capital from $57.00 to $63.00.
- Targa Resources Partners was downgraded by analysts at JPMorgan Chase & Co. to a “neutral” rating. They now have a $55.00 price target on the stock, down previously from $58.00. They wrote, “We are slightly raising our three-year distribution growth CAGR by 100bp, to 9% on the beat. 4Q13 EBITDA was $215mm vs. our $191mm and $184mm Street with DCF/unit at $1.19/unit, well ahead of our $0.96/unit. The beat was driven primarily by LPG exports above contract levels as well as volume increases despite abnormally cold weather. We are also raising our forecast to reflect our recently released NGL price outlook that is more robust relative to our prior assumptions.”
- Targa Resources Partners had its price target raised by analysts at Wunderlich from $56.00 to $61.00. They now have a “buy” rating on the stock.
- Targa Resources Partners had its price target raised by analysts at Jefferies Group from $56.00 to $60.00.
- Targa Resources Partners was upgraded by analysts at Jefferson Research from a “sell” rating to a “hold” rating.
Shares of Targa Resources Partners LP (NASDAQ:NGLS) opened at 54.38 on Friday. Targa Resources Partners LP has a 52-week low of $40.93 and a 52-week high of $56.94. The stock has a 50-day moving average of $52. and a 200-day moving average of $50.97. The company has a market cap of $6.112 billion and a price-to-earnings ratio of 45.57.
Targa Resources Partners LP is a limited partnership formed by Targa Resources, Corp (NASDAQ:NGLS).
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