The Globe and Mail reports in its Friday, Jan. 9, edition that BMO Capital Markets analyst Ben Pham is keeping his "outperform" call on Keyera intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Pham gave his share target a $3 trim to $51. Analysts on average target the shares at $52.60. Mr. Pham says in a note: "While we remain bullish on Keyera's infrastructure segment (namely potential positive revision to its 7- to 8-per-cent fee-based growth guidance through 2027) and the strategic and financial benefits of the Plains NGL deal expected to close in a few months, recent investor inbounds suggest that there is hesitancy to get involved with the stock near-term given commodity headwinds. We've now reflected that commodity risk (target to $51 vs. $54) but with a continued attractive potential total return of 28 per cent and relative valuation (approximately nine times EBITDA vs. peers 11 times), we maintain our 'outperform/Top Pick' designation." The Globe reported on June 19 that Mr. Pham had reaffirmed his "outperform" call for Keyera. It was then worth $44.47. The Globe reported on Dec. 18 that National Bank's Patrick Kenny rated Keyera "sector perform." It was then worth $43.37.