Share on StockTwits

Barclays upped their price objective on shares of Targa Resources Corp (NASDAQ:TRGP) from $122.00 to $139.00 in a research note issued on Wednesday. Barclays’ price objective suggests a potential downside of 1.79% from the stock’s previous close.

Targa Resources Corp (NASDAQ:TRGP) opened at 141.53 on Wednesday. Targa Resources Corp has a 1-year low of $65.56 and a 1-year high of $160.97. The stock has a 50-day moving average of $122.6 and a 200-day moving average of $103.1. The company has a market cap of $5.967 billion and a P/E ratio of 82.10.

Targa Resources Corp (NASDAQ:TRGP) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.62 by $0.15. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. On average, analysts predict that Targa Resources Corp will post $2.44 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on TRGP. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Targa Resources Corp in a research note on Tuesday, June 24th. They now have a $152.00 price target on the stock, up previously from $112.00. Separately, analysts at Wunderlich raised their price target on shares of Targa Resources Corp from $108.00 to $125.00 in a research note on Friday, June 20th. They now have a “hold” rating on the stock. Finally, analysts at Global Hunter Securities initiated coverage on shares of Targa Resources Corp in a research note on Tuesday, June 3rd. They set a “buy” rating and a $131.00 price target on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Targa Resources Corp has an average rating of “Buy” and an average target price of $115.64.

Targa Resources Corp. (NASDAQ:TRGP) forms the Partnership to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.