There’s a lot to be optimistic about in the Utilities sector as 2 analysts just weighed in on Targa Resources (TRGP) and Cimarex Energy (XEC) with bullish sentiments.
Targa Resources (TRGP)
In a report released today, James Weston from Raymond James assigned a Buy rating to Targa Resources, with a price target of $26.00. The company’s shares closed last Thursday at $17.74.
According to TipRanks.com, Weston has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -27.6% and a 27.8% success rate. Weston covers the Industrial Goods sector, focusing on stocks such as Dcp Midstream Partners, Antero Midstream, and Crestwood Equity.
Targa Resources has an analyst consensus of Moderate Buy, with a price target consensus of $22.75.
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Cimarex Energy (XEC)
In a report released today, John Freeman from Raymond James maintained a Buy rating on Cimarex Energy. The company’s shares closed last Thursday at $26.95.
According to TipRanks.com, Freeman is ranked 0 out of 5 stars with an average return of -21.8% and a 20.5% success rate. Freeman covers the Utilities sector, focusing on stocks such as Black Stone Minerals, Southwestern Energy, and Matador Resources.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cimarex Energy with a $39.25 average price target, which is a 51.1% upside from current levels. In a report issued on October 22, UBS also maintained a Buy rating on the stock with a $42.00 price target.
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