May 16, 2019 / 7:51 PM / 6 months ago

BUZZ-RBC raises PT on Keyera, cites pipeline progress

** Brokerages raise PT on Canadian oil and gas transportation services company Keyera Corp

** On Tuesday, co said it would proceed with its C$1.3-bln Key Access Pipeline System (KAPS) to bring natural gas liquids from northwestern Alberta to Fort Saskatchewan

** Brokerage RBC Capital Market says KAPS moving forward could be a game changer for Keyera, as it gives co additional upside by driving volume through its other assets

** Keyera has the best condensate footprint to both capture and deliver volumes for oil sands customers - RBC

** Raises PT by C$2 to C$41; estimates 2019 and 2020 ACFFO/share at C$2.56 and C$3.12 respectively (up from C$2.25 and C$3.01 respectively)

** Separately, Cormark Securities raises PT to C$43 from C$42, sees co as an “attractive” long-term investment in the Canadian midstream space

** The average rating by 16 analysts covering the stock is ‘buy’ and the median price target is C$39

** Shares up 29% YTD (Reporting By Arundhati Sarkar in Bengaluru)

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