Analyst Sam Burwell from Jefferies maintained a Buy rating on Enbridge and keeping the price target at C$73.00.
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Sam Burwell has given his Buy rating due to a combination of factors, including Enbridge’s consistent financial performance and strategic project developments. The company’s EBITDA for the third quarter was in line with expectations, demonstrating stability in its financial operations. Additionally, Enbridge has successfully sanctioned C$3 billion worth of projects, increasing its project backlog to C$35 billion, which indicates robust future growth potential.
Furthermore, Enbridge’s leverage remains within its targeted range, reflecting prudent financial management. The company also maintained its EBITDA guidance for fiscal year 2025, indicating confidence in its future earnings potential despite some anticipated softness in certain segments. These factors collectively support a positive outlook for Enbridge, justifying the Buy rating.
In another report released on October 26, RBC Capital also maintained a Buy rating on the stock with a C$67.00 price target.