Targa(TRGP) ZACKS·2024-12-25 18:01Core Viewpoint - Targa Resources, Inc. (TRGP) has received an upgrade to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimate Revisions - Analysts have been consistently raising their earnings estimates for Targa Resources, with the Zacks Consensus Estimate increasing by 6.5% over the past three months [7]. - For the fiscal year ending December 2024, Targa Resources is expected to earn $6.26 per share, reflecting a 71% increase from the previous year's reported number [11]. Impact on Stock Price - The upgrade in Zacks Rank indicates a positive outlook on Targa Resources' earnings, which is likely to have a favorable impact on its stock price [3][5]. - The correlation between earnings estimate revisions and near-term stock movements suggests that tracking these revisions can be beneficial for investment decisions [6][4]. Zacks Rating System - The Zacks rating system maintains a balanced approach, with an equal proportion of 'buy' and 'sell' ratings across its universe of over 4,000 stocks, ensuring that only the top 20% receive a Zacks Rank 2 or better [8][14]. - The Zacks Rank stock-rating system has a strong track record, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [10].