Targa Resources stock gets a Buy upgrade and USD 350 target?Teaser not valid? nope

Published on 10/04/2026 at 21:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Targa Resources stock was last at USD 281.74 on October 2, 2026, while TD Cowen raised its target from USD 275 to USD 350. Q2 adjusted EBITDA reached USD 1.603 billion, up 38 percent year over year.

TRGP, US87612G1013, Illustration mit AI erstellt.

Targa Resources stock (ISIN US87612G1013) was last at USD 281.74 on the NYSE on October 2, 2026, up USD 2.43 or 0.87 percent from the prior close. The latest analyst catalyst came from TD Cowen, which upgraded the shares from Hold to Buy and raised its price target from USD 275 to USD 350 on September 18, 2026, according to MarketBeat.

TD Cowen lifts target to USD 350

The change puts the new target USD 68.26 above the October 2 price, a gap of 24.23 percent. TD Cowen's move followed a record second quarter and a stronger outlook for Targa's integrated midstream network.

The analyst action is part of a wider run of positive revisions. Morgan Stanley raised its target from USD 343 to USD 359 on September 16, 2026, while maintaining an Overweight rating, as reported by Marketscreener.

Q2 EBITDA reaches USD 1.603 billion

Targa's Q2 2026 adjusted EBITDA reached USD 1.603 billion, 38 percent above the same quarter of 2025 and 14 percent above Q1 2026. Net income totaled USD 764.6 million, up 22 percent year over year, while revenue rose 4 percent to USD 4.44 billion, according to Quartr.

Management expects full-year 2026 adjusted EBITDA toward the top end of its USD 5.7 billion to USD 5.9 billion guidance range. The business is expanding processing, fractionation and export capacity, but the USD 4.5 billion 2026 net growth capital plan keeps investment spending central to the earnings story.

Targets sit above USD 281.74

Investing.com lists a Strong Buy consensus based on 21 analysts, with an average 12-month target of USD 325.14, a high of USD 359 and a low of USD 284. The average target stands 15.41 percent above the October 2 price.

Targa operates gathering and processing as well as logistics and transportation assets for natural gas and natural gas liquids. Its investor materials describe the company as a major North American midstream infrastructure provider, while a company release identifies Targa as an S&P 500 member through Targa Resources.

TRGP stock and the 52-week range

TRGP was last at USD 281.74 on the NYSE on October 2, 2026 at 4:00 p.m. ET. The session range was USD 275.74 to USD 281.92, the 52-week range was USD 144.14 to USD 307.94, volume was 1,243,073 shares and market capitalization was USD 60.5 billion.