Enbridge Inc. (ENB:CA)
Analyst Update
Scotiabank raised its 12 month target price to $73.00 from $70.00 while maintaining a positive view on the stock, reflecting confidence in Enbridge’s resilient, largely regulated pipeline cash flows and improving visibility on the regulatory front. The higher target incorporates the company’s stable long-term contracts, strong utilization across its liquids and gas networks, and growing contribution from gas transmission and storage assets tied to North American LNG demand. Scotiabank also points to Enbridge’s disciplined capital allocation, balance sheet strengthening efforts, and sustainable dividend profile as key supports for valuation, with improved regulatory clarity reducing uncertainty around future project execution and cash flow durability.
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