BMO Comments BMO's Mr. Pham raised his Keyera Corp. target to $35 from $34 with a “market perform” rating. The average is $35.54.
“The Q3/23 results highlighted favorable trends in all of KEY’s business segments (5-per-cent EBITDA beat) and potentially a stronger long-term growth outlook than currently expected — for example, we believe the 6-7-per-cent EBITDA growth through 2025 could be revised higher come the Dec. business update, which is on top of a potential upward revision to base Marketing guidance,” he said. “Accordingly, while we are maintaining our Market Perform rating mainly on year-to-date relative strength, tactically, near-term sentiment could be tilted more to the upside than downside.”