Targa Resources Corp Receives a Buy from Seaport Global

By Carrie Williams

In a report released today, Sunil Sibal from Seaport Global reiterated a Buy rating on Targa Resources Corp (NYSE: TRGP), with a price target of $52. The company’s shares opened today at $46.65.

Sibal has an average return of 62.4% when recommending Targa Resources Corp.

According to TipRanks.com, Sibal is ranked #3608 out of 4743 analysts.

Currently, the analyst consensus on Targa Resources Corp is Strong Buy and the average price target is $55.75, representing a 19.5% upside.

In a report issued on February 1, Goldman Sachs also upgraded the stock to Buy with a $68 price target.

Based on Targa Resources Corp’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $2.14 billion and GAAP net loss of $168 million. In comparison, last year the company earned revenue of $2.01 billion and had a GAAP net loss of $151 million.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil and storing, terminaling, and selling refined petroleum products. It operates through the following segments: Gathering & Processing, and Logistics & Marketing.