The stock of Keyera Corp (TSE:KEY) gapped down by $0.14 today and has $36.11 target or 3.00% below today’s $37.23 share price. The 8 months technical chart setup indicates high risk for the $6.82 billion company. The gap down was reported on Nov, 29 by Barchart.com. If the $36.11 price target is reached, the company will be worth $204.60M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 100,573 shares traded hands. Keyera Corp (TSE:KEY) has declined 5.73% since April 25, 2016 and is downtrending. It has underperformed by 10.99% 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 18.32% above today’s ($37.23) stock price. Keyera has been the topic of 28 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The company was maintained on Monday, June 6 by Raymond James. The stock of Keyera Corp (TSE:KEY) earned “Hold” rating by GMP Securities on Thursday, August 6. The firm has “Hold” rating given on Friday, August 7 by TD Securities. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, November 9. The rating was maintained by Scotia Capital on Thursday, August 11 with “Sector Perform”. The rating was initiated by BMO Capital Markets with “Market Perform” on Thursday, February 4. As per Friday, August 12, the company rating was maintained by TD Securities.
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: Business.Financialpost.com and their article: “Kinder Morgan Inc and Keyera Corp team up to build new crude oil storage in …” with publication date: April 01, 2015.
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 $6.82 billion. The Firm is organized into two business units: Gathering and Processing Business Unit and Liquids Business Unit. It has a 32.47 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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