Citi Maintains Buy Rating for NGLS

Citi has issued a report where they assert that the Buy Rating for Targa Resources Partners LP NGLS will remain.

According to Citi, “We reiterate our Buy/High Risk (1H) rating on NGLS and TRGP. The transaction should provide upside to both the GP and LP, fuel future growth and improve risk profile. Our bullish outlook on natural gas liquids has been reinforced by the current crude oil that is ahead of our $95/bbl expectation. We believe the positive fundamental for ethane will allow Targa to deliver another strong year.”

NGLS has a $40.50 PT.

NGLS closed at $31.79 yesterday.