Tudor, Pickering, Holt on Friday upgraded its rating on the shares of Keyera (KEY.TO) to buy from hold, while raising its price target to C$53.00 from C$46.00 as it sees the Western Canadian oil and gas processing and infrastructure company's cash flows on the rise.

"In anticipation of growing fee-for-service cash flows driven by fundamental tailwinds from newly sanctioned frac and pipeline expansions, faster filling of available capacity, as well as accretive benefits from the PAA NGL acquisition, we are upgrading KEY to a Buy from a Hold. Our updated price target of C$53/shr reflects a C$7 improvement from our prior price target and is based on an equal-weighted valuation of DCF and TPHe 2026 EV/EBITDA multiple models. At current levels, we think KEY offers an attractive entry point for longs after underperforming the peer group in the last 30 days post-acquisition announcement. Although Q2 is setting up to be the low-point for the company's 2025 results, we continue to closely monitor the underlying data for their existing processing and frac plants, which have been robust through H1'25. For the remainder of the year we expect the company to continue this momentum," 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: 42.82, Change: +0.19, Percent Change: +0.45