Targa Resources price target raised to $130 from $105 at Mizuho

Mizuho raised the firm’s price target on Targa Resources to $130 from $105 and keeps a Buy rating on the shares. The stock’s 30% rally year-to-date signals investor willingness to ascribe the company a more robust valuation following the successful roll-out of its capital allocation framework, the analyst tells investors in a research note. The firm says Targa’s story “argues for a further re-rating, as its still screens inexpensive when capitalizing its growth outlook.”