Keyera Corp. Receives a Buy from Canaccord Genuity

By Ryan Adsit

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst David Galison from Canaccord Genuity reiterated a Buy rating on Keyera Corp. (TSX: KEY), with a C$46 price target.

According to, Galison is a 4-star analyst with an average return of 6.7% and a 63.6% success rate. Galison covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Concho Resources, and Pembina Pipeline.

Currently, the analyst consensus on Keyera Corp. is Moderate Buy and the average price target is C$44.90, representing an 11.7% upside.

In a report issued on May 29, RBC Capital also reiterated a Buy rating on the stock with a C$46 price target.

The company has a one year high of C$43.21 and a one year low of C$36.03. Currently, Keyera Corp. has an average volume of 340.4K.

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 gathering and processing business unit refers to raw gas gathering pipelines and processing plants, which collect and process raw natural gas, remove waste products and separate the economic components before the sales gas is injected into pipeline systems for transportation to end-use markets. The liquid business unit is consists of NGL infrastructure and marketing segments which are operation of network of facilities for the processing, storage and transportation of the by-products of natural gas processing, including NGLs, and the marketing of a range of products associated with its two infrastructure business lines, primarily propane, butane, condensate and iso-octane, and also engages in crude oil midstream activities accordingly. The company was founded in 1998 and is headquartered in Calgary, Canada.

The company’s shares closed last Wednesday at $40.20.