RBC Capital raised the firm’s price target on Enbridge (ENB) to C$63 from C$59 and keeps an Outperform rating on the shares after the company provided 2025 guidance. RBC views the outlook “favorably” against consensus being near the low-end of the management’s EBITDA range, and also contends that the guidance appears to contain a number of relatively conservative assumptions relating to Mainline volumes and the USD/CAD exchange rate, the analyst tells investors in a research note. Tthe company’s core businesses remain positioned to benefit from favorable secular energy trends in North America that support the delivery of multi-year earnings, cash flow and dividend per share growth, RBC stated.
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Read More on ENB:
- Enbridge increasing quarterly common share dividend 3% to 94.25c per share
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