TD Securities resumed coverage of Enbridge (ENB) with a Buy rating and C$67 price target following the company’s investment for a 12.5% interest in the Westcoast natural gas pipeline system with the Stonlasec8 Indigenous Alliance Limited Partnership. The announcement is consistent with Enbridge’s commitment to advancing indigenous ownership opportunities, the analyst tells investors in a research note. The firm believse the transaction was completed at a multiple at or near Enbridge’s current trading multiple.
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