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Keyera Corp T.KEY

Alternate Symbol(s):  KEYUF

Keyera Corp. is a Canada-based company, which operates an integrated energy infrastructure business. The Company operates through three segments: Gathering and Processing, Liquids Infrastructure, and Marketing. The Gathering and Processing segment includes raw gas gathering systems and processing plants located in natural gas production areas primarily on the western side of the Western Canada Sedimentary Basin. The operations primarily involve providing natural gas gathering and processing, including liquids extraction and condensate stabilization services to customers. This segment also includes sales of ethane volumes. The Liquids Infrastructure segment provides fractionation, storage, transportation and terminalling services for natural gas liquids (NGLs) and crude oil. The Marketing segment is primarily involved in the marketing of NGLs, such as propane, butane, and condensate; and iso-octane to customers in Canada and the United States, as well as liquids blending.


TSX:KEY - Post by User

Comment by hawk35on Nov 10, 2022 12:08pm
212 Views
Post# 35088760

RE:From the G&M in the Analysts upgrades ...

RE:From the G&M in the Analysts upgrades ...Here are the full comments from todays Globe and Mail.


ATB Capital Markets’ Nate Heywood lowered his Keyera Corp. (KEY-T +1.72%increase) target to $35 from $36 with an “outperform” rating. Other changes include: BMO’s Ben Pham to $33.50 from $34 with a “market perform” rating, Raymond James’ Michael Shaw to $32 from $35.50 with a “strong buy” rating, D Securities’ Linda Ezergailis to $36 from $38 with a “buy” rating, National Bank’s Patrick Kenny to $34 from $35 with an “outperform” rating, RBC’s Robert Kwan to $36 from $37 with an “outperform” rating and CIBC’s Robert Catellier to $33 from $34 with an “outperformer” rating. The average is $34.42.

“While we acknowledge the negative sentiment associated with yet another cost overrun for KAPS, the reality is that the most recent cost overrun amounts to less than $0.50/share in value with no funding concerns given Keyera’s liquidity and strong leverage metrics. Cutting through the short-term KAPS noise, Keyera’s underlying business is performing well and Keyera is highly levered to our favoured midstream sector theme being future WCSB volume growth. While we acknowledge the stock may be range bound until KAPS is complete in Q1/23, we believe patient investors will be rewarded when the dust settles,” said Mr. Kwan.

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