As previously reported, Argus analyst John Staszak initiated coverage of Targa Resources with a Buy rating and $140 price target. The firm is positive on the company operating in nearly every segment of the midstream sector of the oil & gas industry as well as being geographically diverse, with many of its assets located in some of the United States’ most productive oil and gas formations and connected with important NGL facilities, the analyst tells investors in a research note. Targa also has large-scale operations in the Permian Basin, and despite some obstacles, the companys production in the region has led to increased demand for NGL processing, the firm added.
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