UBS raised the firm’s price target on Targa Resources to $147 from $116 and keeps a Buy rating on the shares. The firm says that within its coverage, Targa remains most levered to growing natural gas liquid volumes out of the Permian Basin. Targa is the largest gatherer and processor in the Permian basin, and Permian volumes should continue to grow, the analyst tells investors in a research note. With the company’s multiple growth projects expected to come online, its earnings are expected to continue to grow in the next three years, adds UBS.
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