RBC Capital Maintains Outperform Rating on Targa Resources (TRGP) After Q3 Beat

Core Viewpoint - Targa Resources Corp. (NYSE:TRGP) is recognized as a strong energy stock with significant upside potential, supported by a recent price target increase from RBC Capital to $213 from $208, maintaining an Outperform rating following the company's third-quarter 2025 results [1]. Financial Performance - Targa Resources reported earnings per share of $2.13, exceeding expectations, although the company experienced a revenue shortfall during the same period [2]. - The company announced a public offering of senior notes totaling $1.75 billion, which includes $750 million of 4.350% Senior Notes due in 2029 and $1.0 billion of 5.400% Senior Notes due in 2036 [2]. Market Position and Strategy - RBC Capital highlighted solid and increasing volumes that support Targa's newly declared development projects, which are anticipated to provide strategic advantages for the company [3]. - Targa Resources is identified as a leading midstream energy company with extensive infrastructure that connects North American natural gas and natural gas liquids (NGLs) to key domestic and international markets [3].