Tuesday, 23 April 2024
Trending

[the_ad_group id="2845"]

Business News

A Buy Rating with Resilient Earnings and Strategic Growth Prospects – TipRanks Financial Blog

Kepler Capital Sticks to Their Buy Rating for Euronav (EURN) – TipRanks Financial Blog

[the_ad id="21475"]

[ad_1]

Spiro M. Dounis, an analyst from Citi, maintained the Buy rating on Targa Resources (TRGPResearch Report). The associated price target remains the same with $112.00.

Spiro M. Dounis has given his Buy rating due to a combination of factors, including Targa Resources’ solid earnings potential and strategic project developments. Dounis estimates that Targa Resources will achieve an EBITDA slightly above the Street’s mean expectations, despite expecting some sequential decline due to weather impacts and increased operating expenses. This resilience is attributed to the company’s ability to mitigate commodity price fluctuations through fee-based protections, thus maintaining stability in its financial performance.

Furthermore, Dounis anticipates a strong end to the quarter for Targa Resources, with the potential for volume outperformance to provide an upside to his forecasts. The recent completion of processing capacities in the Permian Basin, although initially slowed by weather conditions, is expected to contribute positively as operations ramp up. Additionally, Targa’s proactive approach in planning and potentially announcing new projects, as hinted in their previous discussions about ordering long-lead items, suggests a robust growth trajectory, which supports the analyst’s optimistic outlook and Buy rating for the stock.

In another report released on March 20, Truist Financial also assigned a Buy rating to the stock with a $120.00 price target.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

Targa Resources (TRGP) Company Description:

Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil and storing, terminaling, and selling refined petroleum products. It operates through the following business segments: Gathering and Processing, and Logistics and Transportation. The Gathering and Processing segment includes assets used in the gathering of natural gas produced from oil and gas wells and processing this raw natural gas into merchantable natural gas by extracting NGLs and removing impurities; and assets used for crude oil gathering and terminaling. The Logistics and Transportation segment…

Click Here to Read the Full Original Article at TipRanks Financial Blog…

[ad_2]

[the_ad id="21476"]