Targa Resources Extends Exxon Deal as Street Lifts Price Targets
Major banks cluster around ~$300 price targets as TRGP trades near $298.59 after moving from the mid‑$260s. Targa Resources raised its 2026 adjusted EBITDA outlook to the high end of $5.7B–$5.9B, tied to fee-based Permian volume deals with ExxonMobil. TRGP plans roughly $5B in 2026 growth capex for plants and the Bull Run II pipeline.