Targa Resources Corp. (TRGP) Price Target Analysis
Wall Street analyst price targets, ratings consensus & upside potential · Updated May 1, 2026
Current Price
$249.50
Price Target
$237.70
Target Range
$207.00 — $268.00
Analyst Rating
Buy
Forward P/E24.6x
Trailing P/E29.3x
Forward PEG—
Implied Growth+32.8%
Median Target$236.00
Analyst Spread25.7%
Price Forecast (1 Year)
Last 12 months price action with 12-month analyst target path
Bear Case
$207
-17.0%
Consensus
$238
-4.7%
Bull Case
$268
+7.4%
Valuation Model TargetsConfidence: 50/100
Bear$28
Base$287
Bull$316
TRGP Price Target Analysis
Updated May 6, 2026As of May 6, 2026, Targa Resources Corp. (TRGP) has a Wall Street consensus price target of $237.70, based on estimates from 33 covering analysts. With the stock currently trading at $249.50, this represents a potential downside of -4.7%. The company has a market capitalization of $53.60B.
Analyst price targets range from a low of $207.00 to a high of $268.00, representing a 26% spread in expectations. The median target of $236.00 aligns closely with the consensus average.
The current analyst consensus rating is Buy, with 28 analysts rating the stock as a Buy or Strong Buy,5 rating it Hold, and 0 rating it Sell or Strong Sell. This overwhelmingly bullish sentiment suggests analysts see significant catalysts for upside ahead.
From a valuation perspective, TRGP trades at a trailing P/E of 29.3x and forward P/E of 24.6x. Analysts expect EPS to grow +32.8% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $287.48, with bear and bull scenarios of $27.71 and $315.72 respectively. Model confidence stands at 50/100, reflecting moderate uncertainty in projections.
Investment Context: Price targets represent analyst expectations for the next 12 months and should be considered alongside your own research. Targets are based on analysts' assumptions about earnings growth, margins, and market conditions which may change. For sector-specific context, view other Energy stocks.
Analyst Sentiment Comparison
Industry Peer AnalysisAvg Peer Upside+2.3%
Avg Forward P/E14.5x
Peers with Coverage10 / 10
| Company | Market Cap | Price | Target | Upside | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 WESWestern Midstream Partners, LP | $16.8B | $41.25 | $41.00 | -0.6% | Hold | 12.9x | 13 |
 CTRACoterra Energy Inc. | $24.7B | $32.55 | $34.00 | +4.5% | Buy | 11.5x | 55 |
 DTDynatrace, Inc. | $11.4B | $38.21 | $49.81 | +30.4% | Buy | 22.7x | 34 |
 HESMHess Midstream LP | $8.0B | $38.22 | $32.00 | -16.3% | Hold | 13.2x | 9 |
 MPLXMPLX Lp | $56.5B | $55.66 | $60.25 | +8.2% | Buy | 12.6x | 28 |
 AMAntero Midstream Corporation | $10.1B | $21.16 | $21.50 | +1.6% | Hold | 19.1x | 17 |
 EPDEnterprise Products Partners L.P. | $81.2B | $37.56 | $37.00 | -1.5% | Buy | 13.1x | 45 |
 ETEnergy Transfer LP | $68.4B | $19.87 | $19.00 | -4.4% | Buy | 12.3x | 32 |
 PAGPPlains GP Holdings, L.P. | $4.7B | $23.64 | $22.75 | -3.8% | Buy | 12.5x | 29 |
 OKEONEOK, Inc. | $53.9B | $85.60 | $89.88 | +5.0% | Hold | 15.2x | 39 |
Upside Potential Comparison
DTMPLXOKECTRAAMWESEPDPAGPFull TRGP Stock Analysis
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Start ComparisonTRGP — Frequently Asked Questions
Quick answers to the most common questions about buying TRGP stock.
What is the TRGP stock price target for 2026?
Wall Street's consensus price target for TRGP is $237.7, -4.7% from its current price of $249.5. The below-market target from 33 analysts suggests limited near-term appreciation.
Is TRGP a buy, sell, or hold?
TRGP has a consensus rating of "Buy" based on 33 Wall Street analysts. The rating breakdown is predominantly bullish, with 28 Buy/Strong Buy ratings. The consensus 12-month price target of $237.7 implies -4.7% downside from current levels.
Is TRGP stock overvalued or undervalued?
TRGP trades at a forward P/E of 24.589x, representing a moderate valuation. With analysts targeting $237.7 (-4.7% implied move), the stock appears close to fair value.
How high can TRGP stock go?
The most bullish Wall Street analyst has a price target of $268 for TRGP, while the most conservative target is $207. The consensus of $237.7 represents the median expectation. Our quantitative valuation model projects a bull case target of $316 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
How many analysts cover TRGP stock?
TRGP is heavily covered by Wall Street, with 33 analysts providing price targets and ratings. Of these, 1 have Strong Buy ratings, 27 have Buy ratings, 5 recommend Hold, and 0 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
What is the TRGP stock forecast?
The 12-month TRGP stock forecast based on 33 Wall Street analysts shows a consensus price target of $237.7, with estimates ranging from $207 (bear case) to $268 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $287, with bear/bull scenarios of $28/$316.
What is TRGP's fair value based on fundamentals?
Our quantitative valuation model calculates TRGP's fair value at $287 (base case), with a bear case of $28 and bull case of $316. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 50/100.
What is TRGP's forward P/E ratio?
TRGP trades at a forward P/E ratio of 24.6x based on next-twelve-months earnings estimates compared to a trailing P/E of 29.3x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Should I buy TRGP stock?
Analysts are cautious on TRGP, with 0 Sell ratings and a price target of $237.7 (-4.7% from current price). The "Buy" consensus suggests careful evaluation before buying. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
Why do TRGP price targets vary so much?
TRGP analyst price targets range from $207 to $268, a 26% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $237.7 consensus represents the middle ground. Our model's $28-$316 range provides an independent fundamental perspective.