TSX:ENB - Post Discussion
Post by
ace1mccoy on May 13, 2024 9:00am
Target Raises
Jefferies’ Anthony Linton raised his Enbridge Inc. (ENB-T +1.04%increase
) target to $55 from $53 with a “buy” rating. Other changes include: BMO’s Ben Pham to $54 from $52 with a “market perform” rating, National Bank’s Patrick Kenny to $53 from $52 with a “sector perform” rating and Scotia’s Robert Hope to $54 from $50 with a “sector perform” rating. The average is $53.86.
“Enbridge had a solid start to the year with significant beats on Q1/24 EBITDA, EPS, and cash flow. Overall, Enbridge’s core systems continue to operate at high utilization, though we do note that some Q1 outperformance is not likely to carry on (i.e. monetization of tax credits). Our 2024 estimates increase to reflect the better-than-expected Q1, while our go-forward estimates move slightly higher to reflect strong utilization of its assets,” said Mr. Hope.
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