Enbridge (ENB) Receives a Buy from National Bank

By Ryan Adsit

Enbridge (ENBResearch Report), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. Analyst Patrick Kenny from National Bank rated Enbridge (ENBResearch Report) a Buy, setting a C$59 price target.

According to TipRanks.com, Kenny is a 1-star analyst with an average return of -1.8% and a 54.5% success rate. Kenny covers the Basic Materials sector, focusing on stocks such as Inter Pipeline Ltd, Gibson Energy Inc, and Pembina Pipeline.

Currently, the analyst consensus on Enbridge is a Strong Buy with an average price target of C$57.25, implying a 20.9% upside from current levels. In a report issued on January 14, CIBC also reiterated a Buy rating on the stock with a C$57 price target.

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The company has a one-year high of C$49.46 and a one-year low of C$37.36. Currently, Enbridge has an average volume of 5.55M.

Enbridge, Inc. engages in the provision of gas and oil businesses. It operates through the following segments: Liquid Pipelines, Gas Distribution, Gas Distribution, Green Power and Transmission, Energy Services, and Eliminations and Other.

The company’s shares closed on Wednesday at C$47.35.