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Targa Resources Extends Exxon Deal as Street Lifts Price Targets

Targa Resources logoTarga Resources
Sig2.40Sen+3.65Env0.00Soc0.00Gov0.00
Exxon Mobil logoExxon Mobil
Sig2.40Sen+2.05Env0.00Soc0.00Gov0.00

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.

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