diff --git a/packages/puppeteer-core/src/common/Browser.ts b/packages/puppeteer-core/src/common/Browser.ts
index 2e18acd8ff5..0687335718b 100644
--- a/packages/puppeteer-core/src/common/Browser.ts
+++ b/packages/puppeteer-core/src/common/Browser.ts
@@ -374,22 +374,11 @@ export class CDPBrowser extends BrowserBase {
     }
   };
 
-  #onTargetChanged = ({
-    target,
-    targetInfo,
-  }: {
-    target: Target;
-    targetInfo: Protocol.Target.TargetInfo;
-  }): void => {
-    const previousURL = target.url();
-    const wasInitialized = target._isInitialized;
-    target._targetInfoChanged(targetInfo);
-    if (wasInitialized && previousURL !== target.url()) {
-      this.emit(BrowserEmittedEvents.TargetChanged, target);
-      target
-        .browserContext()
-        .emit(BrowserContextEmittedEvents.TargetChanged, target);
-    }
+  #onTargetChanged = ({target}: {target: Target}): void => {
+    this.emit(BrowserEmittedEvents.TargetChanged, target);
+    target
+      .browserContext()
+      .emit(BrowserContextEmittedEvents.TargetChanged, target);
   };
 
   #onTargetDiscovered = (targetInfo: Protocol.Target.TargetInfo): void => {
diff --git a/packages/puppeteer-core/src/common/ChromeTargetManager.ts b/packages/puppeteer-core/src/common/ChromeTargetManager.ts
index 58c8353aadb..153611b5e1c 100644
--- a/packages/puppeteer-core/src/common/ChromeTargetManager.ts
+++ b/packages/puppeteer-core/src/common/ChromeTargetManager.ts
@@ -263,10 +263,21 @@ export class ChromeTargetManager extends EventEmitter implements TargetManager {
     const target = this.#attachedTargetsByTargetId.get(
       event.targetInfo.targetId
     );
-    this.emit(TargetManagerEmittedEvents.TargetChanged, {
-      target: target!,
-      targetInfo: event.targetInfo,
-    });
+    if (!target) {
+      return;
+    }
+    const previousURL = target.url();
+    const wasInitialized = target._isInitialized;
+
+    target._targetInfoChanged(event.targetInfo);
+
+    if (wasInitialized && previousURL !== target.url()) {
+      this.emit(TargetManagerEmittedEvents.TargetChanged, {
+        target: target,
+        wasInitialized,
+        previousURL,
+      });
+    }
   };
 
   #onAttachedToTarget = async (
diff --git a/packages/puppeteer-core/src/common/TargetManager.ts b/packages/puppeteer-core/src/common/TargetManager.ts
index 4f69b72ba98..3f0c6e3399f 100644
--- a/packages/puppeteer-core/src/common/TargetManager.ts
+++ b/packages/puppeteer-core/src/common/TargetManager.ts
@@ -68,5 +68,8 @@ export const enum TargetManagerEmittedEvents {
   TargetDiscovered = 'targetDiscovered',
   TargetAvailable = 'targetAvailable',
   TargetGone = 'targetGone',
+  /**
+   * Emitted after a target has been initialized and whenever its URL changes.
+   */
   TargetChanged = 'targetChanged',
 }