What is PGM?
Greyscale, uncompressed, with a header you can read in a text editor. PGM is part of the netpbm family, and it exists because sometimes you want pixel values you can do arithmetic on without a decoder in the way. Image processing and computer vision code loves it.
What is TGA?
Targa dates to 1984 and refuses to die, because game engines and 3D packages standardised on it for textures and never had a reason to move. It keeps an alpha channel, optionally compresses runs of identical pixels, and is simple enough that every tool reads it.