Seaport Research raised the firm’s price target on Targa Resources to $95 from $94 and keeps a Buy rating on the shares. While the company’s near-term results will weaker versus consensus expectations, the longer term free cash flow growth story remains solid, the analyst tells investors in a research note. Targa’s 2024 volume and cash flow growth should be positively impacted by volume growth in the Permian basin, says the firm.
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