Targa Resources Corp: A Stock in Turmoil

Targa Resources Corp’s stock price has taken a nosedive in recent days, with the current price plummeting below yesterday’s close. The company’s shares have been hemorrhaging value on the US market, with a slight decrease in value that’s anything but slight. The writing is on the wall: Targa Resources is struggling to stay afloat.

But don’t just take our word for it. Analysts at Wells Fargo have been singing a different tune, raising their target price for Targa Resources despite the company’s recent woes. Their reasoning? A steady outlook and growth in the Permian region. Sounds like a recipe for disaster to us.

• Stability in Leadership: The company’s leadership has demonstrated stability and made smart decisions regarding liquidity. But is that enough to save the company from itself?
• Valuation Concerns: The company’s valuation remains high, with a price-to-earnings ratio that’s above average. This is a red flag for investors, and a clear indication that the company’s stock price is due for a correction.

The question on everyone’s mind is: can Targa Resources turn things around? With a steady outlook and growth in the Permian region, it’s possible that the company can right the ship. But until then, investors would do well to exercise caution. The writing is on the wall, and it’s not looking good for Targa Resources Corp.