TSX tick higher after index ends prior session near two-week high
Investing.com - RBC Capital has raised its price target on Enbridge Inc. (TSX:ENB) (NYSE:ENB) to C$72.00 from C$67.00 while maintaining an Outperform rating on the stock.
The price target increase follows Enbridge’s third-quarter 2025 financial results, which RBC noted reinforced the company’s previously communicated growth outlook.
RBC highlighted how projects sanctioned during the third quarter demonstrate the "breadth and depth" of Enbridge’s backlog of opportunities, as well as management’s disciplined approach to capital allocation for projects with competitive risk-adjusted returns.
The investment firm expects Enbridge to unveil incremental brownfield opportunities that will support its low-risk 5% growth through the end of the decade, with dividends potentially rising in line with cash flow growth.
RBC also mentioned the likely upcoming sanctioning of the MLO1 project, which appears to be supported by what the firm described as "the energy industry’s cautious, but rising, optimism."
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