TARGA RESOURCES CORP

TRGP
Real-time Estimate Quote. Real-time Estimate  - 12/01 11:03:25 am
53.76USD +4.13%

Targa Resources Corp. : The underlying trend is in force again

11/25/2021 | 02:33am
Jordan Dufee
Senior Analyst

Strategy published on : 11/25/2021 | 02:33

long trade
Stop-loss triggered

Entry price : 53.68$
Target : 64$
Stop-loss : 52$
Potential : 19.23%

Shares in Targa Resources Corp. show a positive technical chart pattern over the medium term. The timing to jump back on the rising trend seems good.
Investors have an opportunity to buy the stock and target the $ 64.

Summary

● The company has strong fundamentals. More than 70% of companies have a lower mix of growth, profitability, debt and visibility.

● The company presents an interesting fundamental situation from a short-term investment perspective.


Strengths

● Its core activity has a significant growth potential and sales are expected to surge, according to Standard & Poor's' forecast. Indeed, those may increase by 110% by 2023.

● Over the last twelve months, the sales forecast has been frequently revised upwards.

● Over the last 4 months, analysts have significantly revised upwards the company's estimated sales.

● For the last twelve months, analysts have been gradually revising upwards their EPS forecast for the upcoming fiscal year.

● For the past twelve months, EPS forecast has been revised upwards.

● Analysts have a positive opinion on this stock. Average consensus recommends overweighting or purchasing the stock.

● Over the past four months, analysts' average price target has been revised upwards significantly.

● Consensus analysts have strongly revised their opinion of the company over the past 12 months.


Weaknesses

● Low profitability weakens the company.

● The group shows a rather high level of debt in proportion to its EBITDA.

● In relation to the value of its tangible assets, the company's valuation appears relatively high.

● Sales estimates for the next fiscal years vary from one analyst to another. This clearly highlights a lack of visibility into the company's future activity.

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