Targa Resources Corp Stock Price Declines Following Q1 Earnings Report
Targa Resources Corp’s stock price has decreased following the release of its Q1 earnings report, which failed to meet investor expectations. The company’s expenses have increased year-over-year, contributing to its financial struggles.
Key Financial Metrics
- Expenses have increased year-over-year
- Q1 earnings report missed investor estimates
Rating and Price Target Adjustments
Goldman Sachs has maintained its rating for Targa Resources Corp, but lowered its price target. This adjustment reflects the company’s current financial performance and market conditions.
Removal from Analyst Focus List
Targa Resources Corp has been removed from JPMorgan’s Analyst Focus List, which previously included it as a top pick. This removal has contributed to the company’s declining stock price.
Investor Confidence
Despite the company’s financial struggles, billionaire Louis Bacon’s investment in Targa Resources Corp suggests that it still has potential for growth. This investment may indicate that the company’s long-term prospects remain attractive to investors.