Targa Resources Corp. (TRGP) Price Target Lowered at Argus

The price target of Targa Resources Corp. (NYSE:TRGP) was recently lowered by Argus Research. Let’s shed some light on the development.

An oil tanker at sunset, symbolizing the company’s supply of global crude oil.

Targa Resources Corp. (NYSE:TRGP) is one of the largest independent midstream infrastructure companies in North America.

It was recently revealed that Argus Research, a New York-based investment research firm, lowered the price target for Targa Resources Corp. (NYSE:TRGP) from $250 to $190, while maintaining a Buy rating on the stock. The analyst has blamed Targa’s unimpressive performance in Q1 2025 for the move. However, it still projects the energy company’s 2025 EBITDA to exceed management’s $4.65 billion-$4.85 billion guidance, assisted by strong production in the Permian basin.

Targa Resources Corp. (NYSE:TRGP) recently reported lower-than-expected results for its Q1 2025, posting an EPS of $0.91 against expectations of $1.98. The company’s revenue of $4.56 billion also missed forecasts by over $337 million. However, TRGP’s adjusted EBITDA rose by 22% YoY to a record $1.18 billion, while it also raised its quarterly dividend by 33% in April to $1 per share. Moreover, the company repurchased $124.9 million worth of shares in the first quarter, with $890.5 million still remaining under its stock buyback program.

While we acknowledge the potential of TRGP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than TRGP and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.