0718 ET - The market has underreacted to Keyera's C$5.15 billion deal to buy Plains All American Pipeline's natural gas liquids business in Canada, Raymond James's Michael Barth argues. The analyst says the acquisition is a home run as far as large midstream dealmaking goes. Yet Keyera's shares have risen roughly 5.2% since the deal was announced, and has only outperformed its peer group by 6.4%. Raymond James's target price increases by 16% to C$59.00 and now sits about 33% above the current share price. As a result, Barth continue to see value in the stock at these levels and reiterates an outperform recommendation. (robb.stewart@wsj.com)
(END) Dow Jones Newswires
June 23, 2025 07:18 ET (11:18 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.