Raymond James raises Targa Resources stock target to USD 340

Published on 10/21/2026 at 11:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Raymond James keeps Strong Buy after lifting its target from USD 335. Targa Resources stock is quoted at EUR 261.15 on October 21, 2026.

Target revision and upcoming dates

Raymond James lifted its Targa Resources target from USD 335 to USD 340 on October 20, 2026.
Adjusted EBITDA reached USD 1.603 billion in the second quarter of 2026.
Targa Resources stock trades at EUR 261.15 at 11:42 a.m. CEST at Lang & Schwarz on October 21, 2026.
The record date is October 30, 2026, ahead of third-quarter results on November 5, 2026.

TRGP, US87612G1013, Illustration mit AI erstellt.

Targa Resources Corp. (ISIN US87612G1013) is quoted at EUR 261.15 at Lang & Schwarz on October 21, 2026, at 11:42 a.m. CEST. Markets Insider reported on October 20, 2026, that Raymond James raised its Targa Resources price target from USD 335 to USD 340 and kept a Strong Buy rating.

The revision gives the latest analyst signal a constructive tone, but the next test is operational delivery. Raymond James cited Targa's Permian gathering and processing position, long-term Exxon agreements, and expected Speedway and LPG export expansion as growth drivers.

Three dates show the progression

On August 6, 2026, Targa reported second-quarter revenue of USD 4.4401 billion, net income of USD 777.7 million and diluted earnings per share of USD 3.54 for the period ended June 30, 2026. The company's second-quarter call also described adjusted EBITDA of USD 1.603 billion, up 38 percent from the prior-year quarter, according to Benzinga.

On October 13, 2026, Targa Resources declared a quarterly dividend of USD 1.25 per common share, equal to USD 5.00 annualized. On October 20, 2026, Raymond James raised its target to USD 340, the third dated event in the sequence.

What does the target mean for growth?

The operating case rests on volume growth and project execution rather than the target alone. Targa said second-quarter Permian volumes reached 7.2 billion cubic feet per day, up 14 percent from a year earlier, while its 2026 adjusted EBITDA guidance remained USD 5.7 billion to USD 5.9 billion, with management expecting performance toward the top end.

The company also said Speedway and its LPG export expansion remain on track for the third quarter of 2027. The same call identified USD 4.5 billion of estimated 2026 net growth capital and USD 250 million of maintenance capital, figures that frame the spending required before the planned cash-flow benefits arrive.

Next dates for shareholders

The record date for the USD 1.25 dividend is October 30, 2026, and the payment date is November 17, 2026. Targa is scheduled to release third-quarter 2026 results before the market opens on November 5, 2026, followed by an 11:00 a.m. ET webcast, according to the company release.

Valuation meets execution

The primary-market quote was last at USD 292.65 on the NYSE on October 20, 2026, at 4:00 p.m. ET. The same dated market snapshot showed a USD 62.8 billion market capitalization and a 52-week range of USD 150.00 to USD 307.94, putting the latest US quote below the yearly high while the euro indication remains the immediate German-market reference.

The further course of trading is shown by the continuously updated real-time quote of Targa Resources stock.