Targa Gets Big Lift; COO Hit With Downgrade

Scotiabank made the boldest analyst move of the day. The bank raised its target price on TRGP from $257 to $314 — a 22% jump. Targa Resources carries a $62.5bn market cap. Short interest sits at just 2.6% of free float. That low short interest signals little bearish pressure against the new bullish target.

WMB got a lighter touch from the same desk. Scotiabank trimmed its target on Williams Companies by $1 to $85 while keeping its Buy rating intact. The contrast with Targa's upgrade suggests Scotiabank sees better near-term upside in Targa's midstream gas gathering model.

The sharpest negative call came from William Blair. The firm cut COO — The Cooper Companies — to Hold from Buy. Cooper makes contact lenses and surgical devices. It has a $12.4bn market cap. Short interest stands at 4.6% of free float. The downgrade removes a key buyer-side voice from the stock without a specific price target attached.

Elsewhere, consensus targets crept higher on ARES and APO, reflecting ongoing Street enthusiasm for alternative asset managers. TTD also saw a modest target lift from analysts covering the programmatic ad platform.