Is Keyera Corp a Buy? The Stock Gapped Up Today

 Is Keyera Corp a Buy? The Stock Gapped Up Today

The stock of Keyera Corp (TSE:KEY) gapped up by $0.02 today and has $58.38 target or 51.00% above today’s $38.66 share price. The 5 months technical chart setup indicates low risk for the $7.30 billion company. The gap was reported on Nov, 17 by Barchart.com. If the $58.38 price target is reached, the company will be worth $3.72B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 168,102 shares traded hands. Keyera Corp (TSE:KEY) has declined 3.39% since April 13, 2016 and is downtrending. It has underperformed by 8.01% the S&P500.

Keyera Corp (TSE:KEY) Ratings Coverage

Out of 5 analysts covering Keyera (TSE:KEY), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. $52 is the highest target while $40 is the lowest. The $44.05 average target is 13.94% above today’s ($38.66) stock price. Keyera has been the topic of 28 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Thursday, August 6 the stock rating was upgraded by GMP Securities to “Hold”. The rating was maintained by RBC Capital Markets on Wednesday, November 9 with “Outperform”. BMO Capital Markets initiated Keyera Corp (TSE:KEY) on Thursday, February 4 with “Market Perform” rating. As per Friday, August 7, the company rating was maintained by TD Securities. The rating was maintained by Scotia Capital with “Sector Perform” on Thursday, August 11. The company was maintained on Friday, August 12 by TD Securities. The firm has “” rating given on Monday, June 6 by Raymond James.

More important recent Keyera Corp (TSE:KEY) news were published by: Marketwired.com which released: “Keyera Corp. Announces $300 Million Public Offering of Common Shares” on May 16, 2016, also Seekingalpha.com published article titled: “Keyera Corp: Buy This Stock Before The Plethora Of New Projects Come Online In …”, Business.Financialpost.com published: “Behind the ‘sweet spot’ at investor favourite Keyera Corp.” on May 23, 2014. More interesting news about Keyera Corp (TSE:KEY) was released by: Reuters.com and their article: “BRIEF-Keyera Corp announces Q3 2016 results” with publication date: November 08, 2016.

Keyera Corp. is engaged in energy midstream businesses, and operates in gas and oil sector between upstream and downstream sectors. The company has a market cap of $7.30 billion. The Firm is organized into two business units: Gathering and Processing Business Unit and Liquids Business Unit. It has a 33.71 P/E ratio. It owns and operates raw gas gathering pipelines and processing plants, which collects and processes raw natural gas, removes waste products and separates the economic components through its Gathering and Processing Business Unit.

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