CIBC Sticks to Their Buy Rating for Keyera Corp.

By Austin Angelo

Keyera Corp. (TSX: KEY), the Materials sector company was revisited on May 8, and remains undervalued for at least one analyst on the street. Analyst Robert Catellier from CIBC reiterated a Buy rating, with a C$45 price target on May 8.

According to TipRanks.com, Catellier is ranked #2731 out of 4801 analysts.

Currently, the analyst consensus on Keyera Corp. is Moderate Buy and the average price target is C$41, representing a 14.0% upside.

In a report issued on May 9, Canaccord Genuity also assigned a Buy rating to the stock with a C$43 price target.

Based on Keyera Corp.’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$87.72 million. In comparison, last year the company had a net profit of C$96.34 million.

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 Friday at C$35.97.