Argus raised the firm’s price target on Targa Resources (TRGP) to $250 from $245 and keeps a Buy rating on the shares. More than three-fourths of the company’s gross margins are derived from fees, and as such, Targa Resources is mostly immune to volatile commodity prices, the analyst tells investors in a research note. Targa’s fee-based agreements based on volume and primarily with blue- chip companies also provide a stable revenue stream for the company, Argus added.
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Read More on TRGP:
- Targa Resources price target raised to $204 from $171 at Barclays
- Targa Resources resumed with an Outperform at Scotiabank
- Targa Resources price target raised to $204 from $190 at Wells Fargo
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