RBC raised the target price on Enbridge Inc. (TSX: T.ENB, Stock Forum) to $56 from $50, saying the company's shares should close the valuation gap with Inter Pipeline Fund (TSX: T.IPL.UN, Stock Forum) and Pembina Pipeline Corp. (TSX: T.PPL, Stock Forum) as all three companies have similar liquids infrastructure businesses that are generating above-average growth.
Enbridge rose 0.67% to $48.44 Friday, leaving the company with a market cap of $39 billion, based on 823 million shares outstanding. The 52-week range is $49.17 and $37.74.