Tudor, Pickering, Holt on Tuesday reiterated its hold rating on the shares of Keyera (KEY.TO) with a C$46.00 price target ahead of first-quarter results from the Western Canadian oil and gas processing and infrastructure company.
"Modeling Q1 adj. EBITDA at C$297MM vs the average Street estimate of C$305MM. The delta is attributable to slightly higher G&A y/y and KEY's Marketing segment, which we expect to come in weaker-than-expected due to the AEF facility going offline near the end of the quarter (6-week turnaround) and a portion of iso-octane sales deferred to Q2. We sit at C$84MM for Q1, with the Street looking for C$92MM," analyst AJ O'Donnell wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 41.69, Change: +0.61, Percent Change: +1.48
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