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Enter Symbol:
Rating: NGLS
Underperform $22

Targa Resources Partners Lp (NYSE: NGLS) downgraded to Underperform with price target $22 by Credit Suisse

Monday,  Dec 21, 2015  10:25 AM ET by Dave Ficere

Credit Suisse downgraded Targa Resources Partners Lp (NYSE: NGLS) to Underperform
with price target $22. Previously Credit Suisse rated Neutral Targa Resources Partners Lp (NYSE: NGLS) on 09/27/2013, when the stock price was $50.09.

Targa Resources Partners LP is a limited partnership formed by Targa Resources, Inc. (Targa). Targa is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States, to own, operate, acquire and develop a portfolio of midstream energy assets. The Company is engaged in the business of gathering, compressing, treating, processing and selling natural gas and fractionating and selling NGL and NGL products. The Company operates in the Fort Worth Basin/Bend Arch in North Texas (the Fort Worth Basin), the Permian Basin of West Texas and in Southwest Louisiana. The Company gathers natural gas from producers at the wellhead or central delivery points, move the wellhead natural gas through the gathering system, treat and process the natural gas and then sell the resulting residue natural gas and NGLs. In September 2009, the Company completed the acquisition of Targa Resources, Inc.'s natural gas liquids businesses (the Downstream Business).

Excellence in equity and fixed income research is a hallmark of Credit Suisse. Globally, our equity research analysts provide in-depth coverage of over 2,500 companies and engage in a knowledge-sharing, value added culture that has yielded the most insightful product for our customers and tremendous competitive results. Additionally, Credit Suisse's powerful macro-economic and debt strategy teams integrate the bank's comprehensive company research with keen market perspectives of the ever-shifting investment terrain.

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