Raymond James Thinks Keyera Corp.’s Stock is Going to Recover

By Austin Angelo

A Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Raymond James’ analyst Chris Cox reiterates their Buy rating on the shares of Keyera Corp. (KEYResearch Report), with a C$40 price target.

According to TipRanks.com, Cox is a 3-star analyst with an average return of 1.8% and a 57.4% success rate. Cox covers the Basic Materials sector, focusing on stocks such as Baytex Energy Corp, Cenovus Energy Inc, and Canadian Natural.

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Currently, the analyst consensus on Keyera Corp. is a Moderate Buy with an average price target of C$40.57, which is a 33.4% upside from current levels. In a report released yesterday, National Bank also maintained a Buy rating on the stock with a C$44 price target.

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Keyera Corp.’s market cap is currently C$6.59B and has a P/E ratio of 19.9. The company has a Price to Book ratio of 2.54.

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 Thursday at C$30.43, close to its 52-week low of C$29.69.