Credit Suisse Starts Targa Resources (TRGP) at Neutral

Before the open, Credit Suisse initiated coverage on Targa Resources (NYSE: TRGP) with a Neutral rating and $34 price target, suggesting 4% upside.

The firm notes, "TRGP owns the general partner (GP) of NGLS and is a leveraged way to invest in NGLS's growth. TRGP's dividend is poised for rapid growth (19.3% 3-year CAGR); however, we think this growth is reflected in the current price, as evidenced by its 3.2% yield, lowest amongst its GP peers."

For more ratings news on Targa Resources click here and for the rating history of Targa Resources click here.

Shares of Targa Resources closed at $34.45 yesterday.

---

GET THE HOTTEST RESEARCH CALLS ON THE STREET- FREE TRIAL!