CIBC Remains a Buy on Keyera Corp. (KEY)

By Austin Angelo

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Keyera Corp. (KEYResearch Report). CIBC’s analyst Robert Catellier reiterates their Buy rating on the shares, with a C$39 price target.

According to TipRanks.com, Catellier is a 3-star analyst with an average return of 2.4% and a 62.9% success rate. Catellier covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Pembina Pipeline, and Enbridge Inc.

Keyera Corp. has an analyst consensus of Strong Buy, with a price target consensus of C$37.88, implying a 34.9% upside from current levels. In a report issued on January 23, National Bank also maintained a Buy rating on the stock with a C$40 price target.

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Keyera Corp.’s market cap is currently C$5.9B and has a P/E ratio of 18. The company has a Price to Book ratio of 2.28.

Keyera Corp. engages in the provision of energy midstream business. It involves in the exploration, and production of oil and gas and services including refining, distribution, as well as retail and marketing of finished products. It operates through the Gathering and Processing; and Liquid Business units.

The company’s shares closed on Monday at C$28.08.