Targa Resources (TRGP) Price Target Raised at Scotiabank, ‘Outperform’ Rating Maintained

Targa Resources Corp. (NYSE:TRGP) is included among the 14 Best Infrastructure Stocks to Buy Now.

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

On April 13, Scotiabank upped its price target on Targa Resources Corp. (NYSE:TRGP) from $246 to $249, while keeping an ‘Outperform’ rating on the shares. The raised target reflects an upside of 4% from the current share price.

The move comes as Scotiabank revised its price targets for the U.S. midstream companies under its coverage. The analyst firm noted that the current surge in commodity prices amid the Middle East conflict is having a more modest impact on FY 2026 earnings than previously anticipated. Despite the soaring price levels, Scotiabank continues to believe that the upstream development activity will likely remain stable this year, despite the soaring price environment.

Targa Resources Corp. (NYSE:TRGP) is targeting an adjusted EBITDA in the range of $5.4 billion and $5.6 billion for FY 2026, up 11% YoY at the midpoint. The company expects approximately $4.5 billion of growth capital spending during the year, supporting its major projects and continued volume growth.

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