15:10:33 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 867,612,878
Close 2016-02-04 C$ 47.64
Market Cap C$ 41,333,077,508
Recent Sedar Documents

Globe says Kuske resets expectations for Enbridge

2016-02-05 06:27 ET - In the News

The Globe and Mail reports in its Friday, Feb. 5, edition that Credit Suisse analyst Andrew Kuske says it is time to reset expectations for Canadian infrastructure companies. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kuske says: "Companies with considerable direct and indirect exposure to crude oil on a fundamental basis have faced the greatest adjustments in our new framework. ... Simply, with Credit Suisse's energy commodity forecasts and the forward curve, we anticipate slowing growth rates beyond 2017 or 2018 and weaker valuations." Accordingly, Mr. Kuske downgraded Enbridge ($47.64) to "neutral" from "outperform." He shaved his share target to $54 from $70. Analysts on average target the shares at $60. Mr. Kuske says: "Over an extended duration, we viewed Enbridge as having an advantaged asset position possessing very high quality visible growth. In the current crude oil market, the legacy history and benefit of very favourable asset positioning generating high quality growth look somewhat questionable beyond 2018. With this view and other factors, we downgrade [Enbridge]." The Globe's John Heinzl said buy Enbridge on Dec. 9, 2015. It could then be had for $41.86.

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