In a report released today, Christopher Sighinolfi from Jefferies reiterated a Hold rating on Targa Resources Corp (NYSE: TRGP), with a price target of $55. The company’s shares closed yesterday at $51.60, close to its 52-week high of $52.54.
According to TipRanks.com, Sighinolfi is a 5-star analyst with an average return of 11.4% and a 68.0% success rate. Sighinolfi covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, Energy Transfer Partners LP, and Dcp Midstream Partners Lp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Targa Resources Corp with a $54 average price target, representing a 4.7% upside. In a report issued on July 12, SunTrust Robinson also initiated coverage with a Hold rating on the stock with a $53 price target.
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Targa Resources Corp’s market cap is currently $11.29B and has a P/E ratio of 206.4. The company has a Price to Book ratio of 1.85.
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Targa Resources Corp. provides midstream natural gas and natural gas liquids services. It also provides gathering, storing, and terminaling crude oil and storing, terminaling, and selling refined petroleum products. It operates through the following segments: Gathering and Processing, and Logistics and Marketing.
