New analyst Price Targets Several equity analysts adjusted their target prices for shares of Enbridge Inc. on Tuesday in response to mixed fourth-quarter earnings and an increase to the projected cost of the construction of the U.S. portion of its Line 3 oil pipeline.
“Although we consider the results mostly inline, the market reacted negatively to the results. Despite the negative market reaction, we are increasing our target price to $52.00 (previously $50.00), primarily on a multiple refresh while retaining our Buy rating,” said Industrial Alliance Securities analyst Elias Foscolos.
Elsewhere, TD Securities’ Linda Ezergailis raised her target to $54 from $53 with a “buy” rating. The average on the Street is $51.32.
Those trimming their targets included:
* CIBC World Markets’ Robert Catellier to $52 from $53 with an “outperformer” rating.
* National Bank Financial’s Patrick Kenny to $51 from $52 with an “outperform” rating.