Sam Burwell, an analyst from Jefferies, maintained the Buy rating on Enbridge. The associated price target remains the same with C$73.00.
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Sam Burwell’s rating is based on a combination of factors that suggest a positive outlook for Enbridge’s stock. Despite the 2026 EBITDA guidance being slightly below consensus at the midpoint, the high end aligns with expectations, indicating potential for growth. The capital expenditure for 2026 is projected to be over 10% higher than consensus estimates, reflecting Enbridge’s commitment to investing in its infrastructure, which could lead to long-term benefits.
While the increased spending on the Mainline is anticipated to elevate costs in 2026, the expected EBITDA growth in 2027 suggests a strategic approach to future profitability. Although there might be some short-term challenges due to the higher capex and unchanged post-2026 growth outlook, the overall alignment with market expectations supports the Buy rating. This strategic investment in infrastructure is seen as a positive move for Enbridge’s future performance.
In another report released on November 27, TR | OpenAI – 4o also upgraded the stock to a Buy with a C$75.00 price target.