RBC Capital Maintains Outperform Rating on Targa Resources (TRGP) After Q3 Beat

Targa Resources Corp. (NYSE:TRGP) ranks among the best energy stocks with huge upside potential. On November 18, RBC Capital lifted its price target for Targa Resources Corp. (NYSE:TRGP) to $213 from $208, while maintaining an Outperform rating following the company’s third-quarter 2025 results. The firm observed that Targa Resources Corp. (NYSE:TRGP) displayed robust quarterly performance and expects the company to meet the upper end of its 2025 adjusted EBITDA guidance range, which RBC thinks could be modest.

Targa Resources Corp. (NYSE:TRGP) outperformed expectations with earnings per share of $2.13. However, the company had a revenue shortfall during the same period. Targa Resources also announced the pricing of its $1.75 billion public offering of senior notes in two parts. The offering contains $750 million of 4.350% Senior Notes due in 2029 as well as $1.0 billion of 5.400% Senior Notes due in 2036.

RBC Capital noted solid and rising volumes as support for Targa’s newly declared development projects, which are expected to offer strategic advantages for the company.

Targa Resources Corp. (NYSE:TRGP) is a leading midstream energy company with extensive infrastructure that connects North American natural gas and natural gas liquids (NGLs) to key domestic and international markets.

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Disclosure: None. This article is originally published at Insider Monkey.