Analyst Sentiment on Targa Resources (TRGP) Strengthens Following Recent Analyst Updates

Targa Resources Corp. (NYSE:TRGP) is included in the list of the best performing S&P 500 stocks in the last five years.

With Targa Resources Corp. (NYSE:TRGP) shares trading near consensus valuation levels, analyst updates continued to pile up through the end of January.

With a $213.00 consensus price target indicating a 3.60% upside as of February 6, 2026, over 90% of analysts covering Targa Resources Corp. (NYSE:TRGP) remain bullish. This sets the context for incremental revisions rather than broad re-ratings.

First, Morgan Stanley raised its price target on Targa Resources Corp. (NYSE:TRGP) to $266 from $264 on January 28, 2026, while maintaining an ‘Overweight’ rating. The update came as the firm revised price targets across its North American Midstream & Renewable Energy Infrastructure coverage. The firm cited a strong start to earnings season, noting that the energy sector continues to drive S&P 500 performance despite stable commodity prices.

Secondly, on January 16, 2026, Scotiabank raised its target on Targa Resources Corp. (NYSE:TRGP) from $199 to $224 while keeping its ‘Outperform’ rating. The firm attributed the increase in target to tailwinds from LNG exports and growing power demand, which it believes are creating more opportunities and an upward bias in long-term estimates.

Targa Resources Corp. (NYSE:TRGP), a midstream energy company, provides natural gas gathering, processing, transportation, and NGL logistics services to support U.S. production, power demand, and LNG export growth.

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Disclosure: None.