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Fly News Breaks for May 5, 2017
TRGP
May 5, 2017 | 06:00 EDT
Raymond James analyst Darren Horowitz upgraded Targa Resources to Strong Buy after the Q1 miss and "soft guidance" due to the drop in shares. The analyst views the weakness as an attractive buying opportunity and said negative 2017 items are reflected in valuation given numerous macro themes and Permian exposure. Horowitz lowered Targa's price target to $55 from $64 but is confident in 2H gas inlet volume growth and said capex visibility is improving.
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