Bank of America Merrill Lynch Reiterates Buy on Targa Resources Partners (NGLS)

Bank of America Merrill Lynch is out with its report today on Targa Resources Partners NGLS, reiterating Buy. In a note to clients, Bank of America Merrill Lynch writes, "We maintain our $39 PO and cash distribution estimates. We reiterate our Buy on NGLS as we see the partnership benefitting from attractive gas processing economics, volume growth around its onshore gathering and processing assets, a solid organic growth backlog, and the potential to participate in M&A." Shares of NGLS closed Monday at $33.28.