Enbridge price target raised to C$72 from C$67 at RBC Capital

RBC Capital analyst Maurice Choi raised the firm’s price target on Enbridge (ENB) to C$72 from C$67 and keeps an Outperform rating on the shares. The company delivered another set of financial results that reinforces Enbridge’s communicated growth outlooks, and the firm also likes how the projects sanctioned during Q3 highlight the breadth and depth of its backlog of opportunities as well as the management’s disciplined approach of allocating capital to projects with competitive risk-adjusted returns, the analyst tells investors in a research note.