Citi raised the firm’s price target on Targa Resources (TRGP) to $227 from $218 and keeps a Buy rating on the shares. The higher target reflects the company’s accelerated infrastructure build-out and accretion from the Badlands preferred equity recapitalization, the analyst tells investors in a research note. The firm says Targa announced several new growth projects on a more accelerated time-frame than anticipated.
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