National Bank Reaffirms Their Buy Rating on Keyera Corp. (KEY)

By Carrie Williams

Shares of Keyera Corp. (KEYResearch Report) were revisited by a Wall Street analyst today. Analyst Patrick Kenny from National Bank rated Keyera Corp. (KEYResearch Report) a Buy, setting a C$44 price target.

According to TipRanks.com, Kenny is a 2-star analyst with an average return of 3.5% and a 50.0% success rate. Kenny covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.

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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Keyera Corp. with a C$41.40 average price target, implying a 30.8% upside from current levels. In a report issued on October 23, CIBC also reiterated a Buy rating on the stock with a C$45 price target.

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Based on Keyera Corp.’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$107 million. In comparison, last year the company had a net profit of C$38.46 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$31.65, close to its 52-week low of C$31.20.