---
title: "Analyst Reiterates Buy Rating and Sets C$65 Price Target on Confidence in PAA Deal Approval and 7–8% EBITDA CAGR Outlook"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286851038.md"
description: "Analyst Sam Burwell from Jefferies has reiterated a Buy rating on Keyera Corp. with a C$65 price target, citing confidence in the PAA deal approval despite regulatory challenges. He expects a 7-8% EBITDA CAGR through 2029, anticipating a favorable ruling from the Competition Tribunal. Burwell's analysis suggests that the market will assign a higher valuation over time, supporting his recommendation."
datetime: "2026-05-19T03:25:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286851038.md)
  - [en](https://longbridge.com/en/news/286851038.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286851038.md)
---

# Analyst Reiterates Buy Rating and Sets C$65 Price Target on Confidence in PAA Deal Approval and 7–8% EBITDA CAGR Outlook

Keyera Corp., the Energy sector company, was revisited by a Wall Street analyst yesterday. Analyst Sam Burwell from Jefferies maintained a Buy rating on the stock and has a C$65.00 price target.

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Sam Burwell has given his Buy rating due to a combination of factors, including management’s apparent conviction in closing the PAA transaction despite the Competition Bureau’s opposition, which signals strong internal confidence in the deal’s merits. He anticipates that the Competition Tribunal is likely to take a more constructive stance than the Bureau, recognizing that more concentrated, domestically anchored ownership of PFS could ultimately strengthen the sector.

Burwell’s central outlook assumes only modest regulatory concessions will be required, limiting downside from potential remedies. Coupled with management’s ability to deliver a projected 7–8% compound annual growth rate in fee-based EBITDA through 2029 and clearer line of sight to a favorable ruling, he expects the market to assign a higher valuation over time, supporting his Buy recommendation and C$65 price target.

Burwell covers the Energy sector, focusing on stocks such as Pembina Pipeline, Whitecap Resources, and Tourmaline Oil. According to TipRanks, Burwell has an average return of 18.6% and a 73.41% success rate on recommended stocks.

In another report released on May 15, TD Cowen also maintained a Buy rating on the stock with a C$61.00 price target.

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