Barclays raises target for Targa Resources stock to USD 294.00

Published on 10/09/2026 at 16:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted EBITDA hit USD 1.603 billion in Q2, up 38.00 percent year over year. For Targa Resources stock, the next report is November 4, 2026.

Key points in brief

Barclays raised its Targa Resources price target from USD 284.00 to USD 294.00 on October 8, 2026.
Second-quarter 2026 adjusted EBITDA reached USD 1.603 billion, up 38.00 percent year over year.
Targa Resources traded at USD 291.73 on the NYSE on October 9, 2026, with a USD 62.6 billion market capitalization.
The next earnings report is scheduled for November 4, 2026.

TRGP, US87612G1013, Illustration mit AI erstellt.

Targa Resources Corp. (ISIN US87612G1013) received a higher price target from Barclays on October 8, 2026, which lifted its target from USD 284.00 to USD 294.00 while retaining an Overweight rating, according to Markets Insider. The change keeps the company within a wider run of positive analyst actions but also places valuation against higher capital spending expectations.

Three milestones shape the outlook

On August 17, 2026, Targa announced 20-year agreements with ExxonMobil and three new natural gas processing plants in the Permian Delaware, according to its investor-relations page. The projects extend the company's infrastructure footprint and tie future growth to producer activity in the Permian Basin.

On September 11, 2026, Targa's second-quarter 2026 results summary reported adjusted EBITDA of USD 1.603 billion, up 38.00 percent year over year and 14.00 percent sequentially, while net income reached USD 764.6 million, up 22.00 percent year over year, according to Quartr. Revenue was USD 4.44 billion in the quarter, up 4.00 percent year over year, and adjusted cash flow from operations was USD 1.371 billion, up 47.00 percent.

What does the target reset mean?

Barclays' USD 294.00 target is only USD 2.27 above the latest NYSE quote of USD 291.73, so the immediate message is more about maintaining confidence than signaling a wide valuation gap. The latest analyst action also contrasts with Stifel's October 9, 2026 target cut from USD 340.00 to USD 335.00, which cited the capital expenditure outlook and projected third-quarter 2026 EBITDA of USD 1.6 billion, according to Investing.com.

Next date is November 4

Targa Resources is scheduled to report its next results on November 4, 2026, according to Gekko. The same source lists expected earnings of USD 2.66 per share and revenue of USD 4.69 billion for that report, giving investors two concrete benchmarks for the next update.

NYSE quote remains near yearly high

Targa Resources was trading at USD 291.73 on the NYSE on October 9, 2026 at 10:48 a.m. ET. Its market capitalization was USD 62.6 billion, while the 52-week range stood at USD 144.14 to USD 307.94, putting the quote USD 16.21 below the high, or 5.26 percent.