Truist raises target for Targa Resources stock to USD 345.00

Published on 10/02/2026 at 14:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted EBITDA rose 38.00 percent year over year in Q2 2026. Targa Resources stock costs EUR 246.85 on October 2, 2026 after EUR 249.85.

TRGP, US87612G1013, Illustration mit AI erstellt.

Targa Resources (ISIN US87612G1013) received a higher USD 345.00 price target after Truist Financial raised its view from USD 312.00 on September 21, 2026, according to MarketBeat. Targa Resources stock was trading at EUR 246.85 at Lang & Schwarz on October 2, 2026 at 2:32 p.m. CEST, down 1.20 percent versus the prior close of EUR 249.85.

Truist target reaches USD 345.00

The target increase puts Truist Financial's valuation view above the broader analyst range reported by Investing.com. That page lists 21 Buy ratings and one Hold rating, with an average 12-month target of USD 325.14 and a high target of USD 359.00, all dated in September 2026.

The target changes follow a strong operating quarter, but the lower Lang & Schwarz price shows that the market snapshot and analyst valuation are different reference points. The euro quote is an intraday indication, while the target is a forward estimate in US dollars.

Second-quarter earnings reset the base

Targa reported USD 3.54 earnings per share for the second quarter of 2026, above the USD 2.83 consensus estimate, while revenue reached USD 4.44 billion against USD 4.90 billion expected, according to MarketBeat. The result was therefore mixed: earnings exceeded expectations by USD 0.71, while revenue fell USD 0.46 billion short of the consensus forecast.

In the second quarter of 2026, adjusted EBITDA increased 38.00 percent year over year to USD 1.603 billion, according to the Yahoo Finance earnings transcript. Management also placed full-year 2026 adjusted EBITDA toward the top of its USD 5.7 billion to USD 5.9 billion guidance range.

Capital spending tests the outlook

The same transcript says second-quarter Permian volumes reached a record 7.2 Bcf/d, up 14.00 percent from a year earlier and 7.00 percent from the first quarter of 2026. Targa also declared a second-quarter 2026 common dividend of USD 1.25 per share, a 25.00 percent increase from the second quarter of 2025.

That growth comes with substantial investment. Management continues to estimate USD 4.5 billion of net growth capital for 2026 and USD 250.0 million of maintenance capital, while lower marketing benefits may weigh on the third quarter of 2026.

TRGP trades below the prior close

Targa Resources was trading at EUR 246.85 at Lang & Schwarz on October 2, 2026 at 2:32 p.m. CEST. The price was down 1.20 percent against the EUR 249.85 prior close at Lang & Schwarz, giving investors a clear same-day contrast with the company's positive earnings and analyst revisions.