- Credit Suisse analyst Andrew M. Kuske upgraded the shares of Enbridge Inc (NYSE:ENB) from Underperform to Neutral.
- For the year-to-date, the company delivered a negative ~5% return versus the S&P/TSX Composite's 1.2% and the Alerian's AMNA performance of negative 3.5%, said the analyst.
- The analyst believes some of the Mainline issues are better understood now and are more effectively reflected in the share price.
- In the quarters ahead, the analyst anticipates some of the noise in relation to the current ENB Mainline evolution to be resolved as witnessed in past cycles with a risks/rewards balance.
- The analyst focuses on the impacts from potential tariff reduction that may fall into a net impact of CA$250 million-CA$500 million of EBITDA in reasonable scenarios.
- In the analyst's view, Enbridge is well positioned with a somewhat dichotomous business, with one half facing better growth prospects and the other half less growth potential.
- Price Action: ENB shares are trading higher by 2.72% at $37.73 on the last check Wednesday.
Enbridge Is Well Positioned With Somewhat Dichotomous Business, Credit Suisse Says
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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Risk Disclaimer
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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