Argus Research lowered Targa Resources Corp.'s price target, citing underwhelming Q1 performance

From Yahoo Finance: 2025-05-18 23:25:00

Argus Research lowered Targa Resources Corp.’s (TRGP) price target from $250 to $190 while maintaining a Buy rating. The move followed TRGP’s underwhelming Q1 2025 performance, but Argus still projects the energy company’s 2025 EBITDA to surpass $4.65-$4.85 billion guidance, driven by robust Permian basin production.

Targa Resources Corp. (TRGP) reported Q1 2025 results below expectations, with an EPS of $0.91 versus an anticipated $1.98. Despite revenue missing forecasts by over $337 million, TRGP’s adjusted EBITDA increased by 22% YoY to a record $1.18 billion. The company also raised its quarterly dividend by 33% and repurchased $124.9 million in shares.

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Read more at Yahoo Finance: Targa Resources Corp. (TRGP) Price Target Lowered at Argus