The stock of Keyera Corp (TSE:KEY) gapped up by $0.42 today and has $40.11 target or 5.00% above today’s $38.20 share price. The 9 months technical chart setup indicates low risk for the $6.96 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $40.11 price target is reached, the company will be worth $348.00 million 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 186,141 shares traded hands. Keyera Corp (TSE:KEY) has declined 6.77% since April 26, 2016 and is downtrending. It has underperformed by 12.00% 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 15.31% above today’s ($38.2) stock price. Keyera has been the topic of 28 analyst reports since August 6, 2015 according to StockzIntelligence Inc. As per Friday, August 7, the company rating was maintained by TD Securities. The rating was maintained by Scotia Capital on Thursday, August 11 with “Sector Perform”. The stock of Keyera Corp (TSE:KEY) earned “Hold” rating by GMP Securities on Thursday, August 6. The rating was initiated by BMO Capital Markets on Thursday, February 4 with “Market Perform”. The company was maintained on Friday, August 12 by TD Securities. The company was maintained on Wednesday, November 9 by RBC Capital Markets. 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: 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 $6.96 billion. The Firm is organized into two business units: Gathering and Processing Business Unit and Liquids Business Unit. It has a 33.31 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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