Citigroup Raises Targa Resources (TRGP) Price Target to $325

Citigroup has reaffirmed its Buy rating for Targa Resources, adjusting the price target to $325, a 11.30% upside from the current price.

By TradeTexts Research Desk · Published Oct 16, 2026, 2:05 PM EDT

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Citigroup raised its price target on Targa Resources Corp. ($TRGP) to $325 from $303 on October 13, 2026, and rates the stock "Buy".

Since the rating, $TRGP is up 0.6% to date (from the $293.04 close on Oct 13, 2026).

TRGP Targa Resources Corp.

$294.90 +60.23% year to date

Daily close · Oct 16, 2026

Key Points

On October 13, 2026, Citigroup reiterated its Buy rating on Targa Resources Corp. with a revised price target of $325, up from $303.
Citigroup's $325 price target implies 11.30% upside from Targa Resources Corp.'s ($TRGP) current $292.01 share price.
As of October 16, 2026, Targa Resources shares traded recently around $292.01, which is about 10.2% below Citigroup's new target.
The company's next earnings report is set for November 5, 2026, following a year-over-year revenue growth of 4.2%.

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Citigroup has reiterated its Buy rating on Targa Resources Corp. (NYSE: TRGP) on October 13, 2026, raising its price target to $325 from $303. This adjustment reflects the firm's confidence in the company's prospects as it continues to operate in the energy sector, specifically in oil and gas midstream operations.

Targa Resources, which focuses on domestic infrastructure assets in North America, has been active in gathering and processing as well as logistics and transportation. The stock recently traded at $292.01 as of October 16, 2026, placing it about 10.2% below Citigroup's new target price.

Other Institutional Activity in Targa Resources

Several other institutional investors have shown interest in Targa Resources. BlackRock Inc. grew its holdings by 291,682 shares, resulting in a total of 20,832,687 shares valued at around $6.14 billion. State Street Corporation also increased its position by 626,925 shares, bringing its total to 14,226,166 shares worth about $4.20 billion. Meanwhile, Wellington Management Group reduced its stake by 866,469 shares, now holding 14,176,394 shares valued at approximately $4.18 billion.

Targa Resources Corp. Stock Down 0.1%

Targa Resources shares are currently trading around $292.01, which is below the adjusted price target of $325 set by Citigroup. This price is indicative of the stock's position relative to its potential, as it trades below the analyst's expectations.

12-month forecast

$TRGP price target

Targa Resources Corp. daily closes and this analyst's $325 target. Not advice.

Recent Earnings

Targa Resources reported trailing-twelve-month revenue of approximately $16.74 billion, with an earnings per share (EPS) of $10.46. The company has a strong return on equity of 70.8% and a net margin of 13.5%. Its next earnings report is scheduled for November 5, 2026, which will provide further insight into its financial performance.

Insider Buying and Selling at Targa Resources Corp.

Recent insider transactions at Targa Resources include several sales by directors. Charles Richard Crisp sold 10,602 shares at an average price of $255.96 on May 12, 2026, totaling about $2.71 million. He also sold 3,000 shares at an average price of $290.23 on August 25, 2026, valued at approximately $870,690. Other directors, including Waters S Davis IV and Paul W Chung, also sold shares in August and September 2026.

Analysts Set New Price Targets

On October 13, 2026, Citigroup maintained its Buy rating on Targa Resources with a new price target of $325, up from $303. In addition, Morgan Stanley maintains an Overweight rating with a target of $359, while TD Cowen upgraded its rating to Buy with a target of $350. Truist Securities also reiterated a Buy rating, increasing its target to $345 from $312.

About Targa Resources

Targa Resources Corp. operates in the energy sector, specifically focusing on owning and managing infrastructure assets for oil and gas. The company is headquartered in Houston, Texas, and employs around 3,570 people. Its activities are crucial for the efficient transportation and processing of natural gas and natural gas liquids in North America.

Bottom Line

Investors should watch for Targa Resources' upcoming earnings report on November 5, 2026, which will shed light on its financial health and operational performance. With a strong Buy rating from Citigroup and other firms, the company's prospects appear solid as it navigates the energy market.