Keyera Corp. (KEY) Gets a Buy Rating from Canaccord Genuity

By Ryan Adsit

Today, an analyst has provided a rating update for the Materials sector company, Keyera Corp. (TSX: KEY). The company received a Buy rating from Canaccord Genuity’s analyst David Galison, with a C$43 price target.

Galison has an average return of 3.3% when recommending Keyera Corp..

According to TipRanks.com, Galison is ranked #859 out of 4850 analysts.

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Keyera Corp. has an analyst consensus of Strong Buy, with a price target consensus of C$42.83, implying a 14.2% upside from current levels. In a report issued on July 25, GMP FirstEnergy also upgraded the stock to Buy with a C$44 price target.

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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$67.06 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 Wednesday at C$37.49.