Keyera's Canadian NGL Deal Seen Warranting Bigger Market Reaction -- Market Talk
Dow Jones
Jun 23
0718 ET - The market has underreacted to Keyera's C$5.15 billion deal to buy Plains All American Pipeline's natural gas liquids business in Canada, Raymond James's Michael Barth argues. The analyst says the acquisition is a home run as far as large midstream dealmaking goes. Yet Keyera's shares have risen roughly 5.2% since the deal was announced, and has only outperformed its peer group by 6.4%. Raymond James's target price increases by 16% to C$59.00 and now sits about 33% above the current share price. As a result, Barth continue to see value in the stock at these levels and reiterates an outperform recommendation. (robb.stewart@wsj.com)
(END) Dow Jones Newswires
June 23, 2025 07:18 ET (11:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.