** Pipeline operator Targa Resources TRGP.N beat fourth-quarter adjusted core profit estimates on Thursday, helped by stronger demand and higher natural gas and NGL transport volumes

** Targa shares rise 1.9% to $228.38 in morning trading

ANALYSTS BULLISH ON TARGA

** Raymond James ("strong buy") raises PT to $255 from $230, says company's strong balance sheet and cash flow still support meaningful dividend growth, opportunistic buybacks, and potential select cash mergers and acquisitions

** Barclays ("neutral") raises PT to $226 from $191, says sustained inlet volume growth, strong commercial execution, and timely, on​-​budget delivery of projects should continue to support solid performance even amid a period of elevated spending

** Brokerage Stifel ("Buy") raises PT to $243 from $213, says capex should fall as some of its largest projects enter service in late 2027

** Adds that this would allow the company to return cash to shareholders either through higher dividends or share repurchases, or more likely both

(Reporting by Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))