Citigroup raises target for Targa Resources stock to USD 325.00
Published on 10/13/2026 at 12:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS- Citigroup raised its Targa Resources price target from USD 303.00 to USD 325.00 on October 12, 2026.
- Targa Resources reported USD 4.44 billion in second-quarter 2026 revenue and USD 3.54 diluted earnings per share.
- The Lang & Schwarz quote was EUR 260.55 on October 13, 2026 at 12:11 p.m. CEST.
- Targa Resources has three new Permian processing plants planned under 20-year ExxonMobil agreements.
Citigroup raised its Targa Resources price target from USD 303.00 to USD 325.00 on October 12, 2026, giving Targa Resources stock a fresh analyst valuation reference. Futunn reported that the Citigroup research note retained the earlier target as its comparison point.
Three dated growth signals
On August 6, 2026, Targa Resources reported USD 4.44 billion in second-quarter revenue, compared with analyst expectations of USD 4.90 billion. Diluted earnings per share reached USD 3.54 against consensus of USD 2.83, while net income was USD 765.0 million. GreekSoup identified the quarter as the period ended June 30, 2026 and linked the figures to the company's 10-Q filing.
On August 17, 2026, Targa Resources announced 20-year agreements with ExxonMobil and three new natural gas processing plants in the Permian Delaware. The duration gives the expansion plan a visible contractual horizon through 2046.
The October 12 Citigroup target is the latest dated event in this sequence. Its USD 325.00 target is USD 22.00 above the previous USD 303.00 target, a 7.26 percent increase calculated from the earlier target.
What does the target mean for valuation?
The target revision comes against a high valuation reference: Targa Resources had a USD 290.54 last price on the NYSE on October 12, 2026 at 4:00 p.m. ET, while its 52-week range was USD 144.14 to USD 307.94. The market capitalization was USD 62.4 billion on October 12, 2026.
MarketBeat said on October 13, 2026 that 21 of 22 covering analysts rated the stock Buy or Strong Buy, with an average twelve-month target of USD 317.85. The same report cited a USD 5.00 annualized dividend based on the latest USD 1.25 quarterly payment, equal to a 1.70 percent yield.
Next results date
Gekko listed November 4, 2026 as Targa Resources' next expected earnings date and cited consensus of USD 2.69 earnings per share and USD 4.72 billion in revenue for the coming quarter. Those estimates provide the next numerical test for the expansion program and the higher analyst target.
Price stays below the yearly high
Targa Resources was trading at EUR 260.55 at Lang & Schwarz on October 13, 2026 at 12:11 p.m. CEST. The quote was in the regular Xetra trading phase, while the primary NYSE reference remained a separate USD market value. The further course of trading is shown by the continuously updated real-time quote of Targa Resources stock.
Targa Resources stock at a glance
- Company: Targa Resources Corp.
- ISIN: US87612G1013
- Ticker: TRGP
- Primary exchange: NYSE
- Price Lang & Schwarz as of October 13, 2026 at 12:11 p.m. CEST: EUR 260.55
- Market capitalization: USD 62.4 billion as of October 12, 2026
- 52-week range: USD 144.14-307.94
- Sector / Industry: Energy / midstream natural gas and natural gas liquids infrastructure
Market context: Market report S&P 500.
