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Targa Resources (TRGP) stock has surged 15% over the past month, with a 14.7% one-month share price return. However, the past year's total shareholder return sits at -7.2%. Analysts are bullish on the company's potential, with a narrative assigning a fair value of $208 and sentiment trending bullish. The company's focus on long-term contracts and strong balance sheet support its valuation. However, competition in the Permian and pipeline overbuilding could impact margins and growth prospects.

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