Wells Fargo analyst Michael Blum maintained a Buy rating on Targa Resources Corp (TRGP) today. The company’s shares opened today at $40.11.
According to TipRanks.com, Blum is a 4-star analyst with an average return of 9.6% and a 61.8% success rate. Blum covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, Western Midstream Partners, and Dcp Midstream Partners Lp.
Currently, the analyst consensus on Targa Resources Corp is a Moderate Buy with an average price target of $52.20, a 30.1% upside from current levels. In a report issued on April 5, Credit Suisse also maintained a Buy rating on the stock with a $50 price target.
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Based on Targa Resources Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $106 million. In comparison, last year the company had a net profit of $22.9 million.
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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 business segments: Gathering and Processing, and Logistics and Marketing.
