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Targa Resources: Analysts’ Recommendations and Target Price

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Nov. 20 2020, Updated 2:29 p.m. ET

Analysts’ recommendations

On August 10, RBC raised its target price for Targa Resources (TRGP) from $60 to $62. Among the analysts surveyed by Reuters, 48% rate Targa Resources stock as a “buy,” while 52% rate it as a “hold.” The mean target price for Targa Resources is $55.2, which implies an upside potential of 5% from its current price of $52.5.

The above graph shows how analysts’ recommendations and target price for Targa Resources have changed in the past year.

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Peers’ ratings

Of the analysts surveyed by Reuters, 71% recommend Kinder Morgan (KMI) as a “buy,” while 29% recommend it as a “hold.” The mean target price for the stock is $21, which implies an upside potential of 17% from its current price of $17.94.

Of the analysts covering ONEOK (OKE), 53% rate the stock as a “hold,” while 47% rate it as a “buy.” The median target price for ONEOK is $70, which implies an upside potential of ~2% from its current price of $68.74.

In comparison, all of the surveyed analysts rate Enterprise Products Partners (EPD) as a “buy.” Analysts’ mean target price of $32 for Enterprise Products Partners implies an upside potential of 8% from its current price of $29.51.

For analysis of Enbridge (ENB) and TransCanada (TRP), read Analyzing Enbridge and TransCanada’s Earnings Growth.

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