Targa Resources Posts Record Q2 EBITDA as TD Cowen Upgrades to Buy

Key Facts

1Targa Resources reported record Q2 2026 adjusted EBITDA of $1.6 billion, a 38% year-over-year increase.

2TD Cowen upgraded TRGP stock to Buy and raised its price target to $350.

Targa Resources reported record Q2 2026 adjusted EBITDA of $1.6 billion, marking a 38% increase compared to the previous year. According to AD HOC NEWS, TD Cowen upgraded TRGP stock to Buy and raised its price target to $350, citing record volumes in the Permian Basin and strong operational execution.

TRGP closed at $287.4 on October 5, 2026, prior to the upward revision in price targets by TD Cowen. AD HOC NEWS reported that the company's net income rose 22% to $764.6 million, while management now expects full-year 2026 adjusted EBITDA to reach the high end of its $5.7 billion to $5.9 billion guidance range.