The Globe and Mail reports in its Friday, July 4, edition that Citi analyst Spiro Dounis has reaffirmed his "buy" recommendation for Keyera. The Globe's David Leeder writes that Mr. Dounis raised his share target to $51 from $50. Analysts on average target the shares at $50.38. Mr. Dounis sees "a larger, more connected" Keyera with its $5.15-billion purchase of a Canadian natural gas distribution network from Plains All American Pipeline. Mr. Dounis says in a note: "The acquisition materially increases Keyera's scale, brings in new customers, enhances the C3 offering and adds market access to the east. We estimate roughly 16-per-cent DCF/unit accretion in the first year. ... The initial $100-million synergies appears conservative. The enhanced cash flow and partial equity funded deal also makes deleveraging to 2.5 times by year-end '28 a light lift, in our view. That said, management could opt to use balance sheet capacity to support opportunistic bolt-on M&A -- something for which we believe the company still has a strong appetite. Keyera's current trading level implies eight times '28 estimated EBITDA when projects enter service and more commercial synergies are likely realized – compelling, in our view."