Targa Resources (TRGP) Stock Forecast & Price Target

Targa Resources
Bull Case

Here are some ways that investors could benefit from investing in Targa Resources Corp.:

• Targa Resources Corp. recently signed 20-year fee-based agreements with ExxonMobil and announced plans to build three new natural gas processing plants in the Permian Delaware, providing long-term revenue visibility and securing a dominant position in high-growth wet gas areas.
• The company reported record second-quarter 2026 results with adjusted EBITDA reaching $1.60 billion, a 38% year-over-year increase, and management now expects full-year results near the top of its guidance range, signaling strong operational momentum.
• Wall Street sentiment has turned sharply positive, with TD Cowen upgrading the stock to Buy and Truist Financial raising its price target to $345.00, reflecting a consensus view that the company is undervalued relative to its peer-leading EBITDA growth.
• Institutional investors are increasing their stakes, with 545 funds adding shares in the most recent quarter, including significant new positions from major players like Sixth Street Partners and JPMorgan Chase, indicating strong professional confidence in the company's outlook.
• Despite the recent rally, the stock is trading at $282.69, which remains below the consensus price target of $310.88, suggesting there is still approximately 10% upside potential for investors entering the position now.