Targa Resources (TRGP) Stock May Be 48% Undervalued Despite Permian Power Deal

Targa Resources has had a powerful multi‑year run, and with the stock now around US$283, the key issue for investors is whether that price still lines up with the cash the business can generate over time. Over the past 5 years the share price has risen by a very large amount, which puts a lot of weight on whether the underlying cash flows can justify that journey. New long term power contracts supporting Targa Resources' Permian Basin gas processing expansion may influence future cash flow...