Wells Fargo Raises Targa Resources Price Target to $205.00, Maintaining "Overweight" Rating.

Wells Fargo analyst Michael Blum maintained an "Overweight" rating for Targa Resources (TRGP) while raising the price target from $198.00 to $205.00, a 3.54% increase. Historically, various analysts have been optimistic about TRGP, with several rating updates provided over the past months. The average target price for TRGP is $205.14, with an upside of 23.93% from the current price of $165.53.

Targa Resources (NYSE: TRGP), a midstream energy company, is scheduled to announce its Q2 2025 earnings results on Thursday, August 7, before the market opens. Analysts are closely monitoring the company's performance, with consensus estimates indicating an earnings per share (EPS) of $1.95 and revenue of $4.89 billion [1].

Over the past three months, EPS estimates have seen one upward revision and three downward revisions, while revenue estimates have seen two upward revisions and two downward revisions. This suggests a degree of uncertainty surrounding Targa Resources' financial performance [1].

CFRA has recently raised its price target on Targa Resources to $177.00 from $168.00, maintaining a Hold rating on the stock. The increase in the price target reflects a combination of EV/EBITDA and DCF model analyses, with CFRA applying a 10x multiple of EV to projected 2026 EBITDA, yielding a value of $167 per share. The firm has also increased its 2025 EPS estimate by $0.55 to $8.38 and its 2026 forecast by $1.00 to $9.95, noting strong pipeline volumes in Q2 in both the Gathering & Processing and Logistics & Transportation segments [2].

MarketBeat calculates a consensus rating of "Buy" for Targa Resources, with 15 analysts rating the stock as a buy and 2 as a hold. The average price target for Targa Resources is $209.86, with an upside of 26.37% from the current price of $166.07 [4].

Wells Fargo analyst Michael Blum maintained an "Overweight" rating for Targa Resources while raising the price target from $198.00 to $205.00, a 3.54% increase. Historically, various analysts have been optimistic about TRGP, with several rating updates provided over the past months. The average target price for TRGP is $205.14, with an upside of 23.93% from the current price of $165.53 [3].

Targa Resources faces potential challenges such as market demand or pricing pressures, dependence on Permian Basin growth, regulatory changes, environmental policies, global economic conditions, and infrastructure project delays. Despite these challenges, the company maintains a positive outlook for the full year 2025, with adjusted EBITDA guidance between $4.65 billion and $4.85 billion [3].

References:
[1] https://seekingalpha.com/news/4480005-targa-resources-q2-2025-earnings-preview
[2] https://www.investing.com/news/analyst-ratings/cfra-raises-targa-resources-stock-price-target-to-177-on-strong-pipeline-volumes-93CH-4180986
[3] https://www.marketbeat.com/stocks/NYSE/TRGP/forecast/
[4] https://www.investing.com/news/transcripts/earnings-call-transcript-targa-resources-q2-2025-earnings-beat-eps-forecast-93CH-4178196