The Financial Post reports in its Wednesday edition that CIBC World Markets analyst Jacob Bout says Canexus should sell its chemical and mid-stream assets so it can maximize shareholder value. The Post's Jonathan Ratner writes in the Trading Desk column that Mr. Bout believes the company's mid-stream assets could fetch between $400-million and $620-million, and its chemical business may be worth $810-million to almost $1.4-billion. Mr. Bout says, "While the stock lost almost 50 per cent over the course of the last year as a result of cost overruns at its North American Terminal Operations (NATO) near Bruderheim, lowered expectations and subpar earnings results, we still believe Canexus has significant potential in the right hands." He reiterated a market weight recommendation. He targets the shares at $6. His sum-of-the-parts valuation puts Canexus shares in the $4.40-to-$8.80 range. AltaGas, Enbridge, Gibson Energy, Inter Pipeline, Keyera, Pembina Pipeline and TransCanada could be interested in the assets. Mr. Bout notes the window of opportunity to sell the mid-stream assets is very short, since companies interested in buying them will likely build their own facilities if the sale process drags on.