Targa Resources price target raised to $226 from $208 at Mizuho

Mizuho analyst Gabriel Moreen raised the firm’s price target on Targa Resources (TRGP) to $226 from $208 and keeps an Outperform rating on the shares. The company has benefited from a stretch of outperformance since its Q3 update following strong signaling its medium-term growth outlook is tracking better than expected, the analyst tells investors in a research note. The firm says the bar may be high for Targa’s update, considering more of its volume momentum appears priced in and will be a multi-year phenomenon.