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Scotiabank Remains a Hold on Keyera Corp. (KEY)


In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Keyera Corp. (KEY). Analyst Robert Hope from Scotiabank rated Keyera Corp. (KEY) a Hold on November 7, setting a C$36 price target.

According to TipRanks.com, Hope is a 3-star analyst with an average return of 1.3% and a 51.0% success rate. Hope covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.

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Keyera Corp. has an analyst consensus of Moderate Buy, with a price target consensus of C$40.14, a 32.0% upside from current levels. In a report issued on November 7, BMO Capital also downgraded the stock to Hold with a C$36 price target.

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Based on Keyera Corp.’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$34.68 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 Thursday at C$30.42, close to its 52-week low of C$29.69.