Targa Resources (TRGP) upgraded to Buy on positive earnings outlook and estimate revisions

From Nasdaq: 2024-12-25 12:00:11

Targa Resources, Inc. (TRGP) has been upgraded to a Zacks Rank #2 (Buy) due to an upward trend in earnings estimates, which strongly influences stock prices. The Zacks rating system tracks EPS estimates from analysts and indicates a positive outlook for TRGP, potentially leading to a higher stock price.

The Zacks rating upgrade for Targa Resources reflects a favorable earnings outlook, which historically correlates with near-term stock price movements. Institutional investors use earnings estimates to determine a stock’s fair value, leading to buying or selling actions that impact the stock price. TRGP’s rising earnings estimates suggest an improving business trend.

Earnings estimate revisions for Targa Resources show an expected EPS of $6.26 for 2024, a 71% change from the previous year. Analysts have raised their estimates for TRGP over the past three months by 6.5%, indicating a positive sentiment towards the company’s future performance. The Zacks Rank system classifies TRGP in the top 20% of stocks for estimate revisions.

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Investors can access the full list of Zacks #1 Rank stocks and learn more about the Zacks Rank system to make informed investment decisions. The Zacks rating system provides equal ‘buy’ and ‘sell’ ratings for all covered stocks, with the top 20% receiving ‘Strong Buy’ or ‘Buy’ ratings based on superior earnings estimate revisions. Targa Resources’ Zacks Rank #2 places it in the top 20% category for potential price appreciation.



Read more at Nasdaq: All You Need to Know About Targa Resources (TRGP) Rating Upgrade to Buy