Barclays Maintains Overweight Rating for Targa Resources: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Barclays has reaffirmed its Overweight rating on Targa Resources (NYSE:TRGP) and increased its price target from $94.00 to $105.00. Targa Resources, a midstream energy firm, has seen its shares trade down 0.64% at $82.00 recently. The new price target suggests a potential upside of 28.05% from the current share price.
January 17, 2024 | 5:00 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Barclays maintains an Overweight rating on Targa Resources and raises the price target to $105, indicating a significant potential upside from the current price.
The reaffirmation of an Overweight rating and an increase in the price target by a major financial institution like Barclays can be a strong positive signal to the market, suggesting potential undervaluation or future growth prospects for Targa Resources. This could lead to increased investor confidence and a potential short-term increase in the stock price, especially considering the substantial 28.05% potential upside indicated by the new price target.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100