Alert: Rating Downgrade (12/1/23)-Targa Resources Corp (NYSE: TRGP).


Stock Rating Downgrade

In the last week the Value Trend Rating for Targa Resources Corp (NYSE: TRGP) weakened from B to C reflecting eroding fundamentals and low Appreciation Potential.


Recent Price Action

Targa Resources Corp (NYSE: TRGP) stock closed at $90.16 on 12/1/23 after a slight decline of -0.3%. However, below average trading volume at 72% of normal accompanied the decline. The stock has risen 3.4% during the last week and has been exceptionally strong relative to the market over the last nine months.

Current PriceTarget Research Rating

With future capital returns forecasted to be above the cost of capital, TRGP is expected to continue to be a major Value Builder.

Targa Resources has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Targa Resources has a slightly negative Appreciation Score of 36 but a very high Power Rating of 86, resulting in the High Neutral Value Trend Rating.

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