Goldman Sachs Raises its Price Target on Targa Resources Corp. (TRGP) to $242 and Maintains a Buy Rating

Core Viewpoint - Goldman Sachs raised its price target on Targa Resources Corp. (TRGP) to $242 from $196 and maintained a Buy rating following better-than-expected Q4 results, driven by strong downstream NGL margins despite flat Permian gathering and processing volumes [1] Group 1: Analyst Ratings and Price Targets - Goldman Sachs increased its price target to $242 from $196 and maintained a Buy rating [1] - Barclays raised its price target to $226 from $191 and kept an Overweight rating, indicating improving long-term fundamentals for Targa [2] Group 2: Financial Performance - Targa reported Q4 revenue of $4.06 billion, slightly below the consensus of $4.14 billion, while adjusted EBITDA was $1.34 billion, up from $1.12 billion the previous year [3] - CEO Matt Meloy highlighted positive momentum in the business, particularly in the Permian, and noted that large downstream capital projects expected to complete in the second half of 2027 will provide significant operating leverage and support durable free cash flow [3] Group 3: Company Overview - Targa Resources Corp. operates domestic infrastructure assets in North America through its Gathering and Processing and Logistics and Transportation segments [4]