The Globe and Mail reports in its Friday, Oct. 6, edition that Citi analyst Spiro Dounis rates Keyera "buy" in new coverage. The Globe's David Leeder writes that Mr. Dounis set a share target of $35. Analysts on average target the shares at $35.83. The Globe says Mr. Dounis believes Keyera's "lower risk profile is underappreciated." Mr. Dounis sees Keyera generating "excess cash flow that can be used to enhance capital returns (buybacks, dividends) or reinvest in growth capital." Mr. Dounis says in a note: "Keyera has historically outspent cash flows to grow its asset base by over 40 per cent. The company is now in a position to harvest those efforts with the commencement of major projects like KAPS that is expected to drive a 6- to 7-per-cent fee-for-service EBITDA CAGR [compound annual growth rate] through '25. We expect this cash harvest period to equate to over 25 per cent of CFO, creating capital return options not available historically. The completion of this elevated spending period now allows Keyera to recommence dividend growth after several years of pause (notably, Keyera did not cut the dividend during the 2020 pandemic). We estimate a 4-per-cent CAGR on Keyera's 6-per-cent yielding dividend."