The Globe and Mail reports in its Thursday, Sept. 3, edition that CIBC analyst Paul Lechem says Enbridge's ($52.76) $30.4-billion drop-down of its liquids pipeline and renewable generation assets is a "game changer" for both Enbridge Income Fund, the operating company to which the assets were transferred, and its publicly traded holding company, Enbridge Income Fund Holdings ($33.15). The Globe's David Leeder writes that Mr. Lechem says: "The transaction is transformational for ENF and the fund. The drop-down is over an order of magnitude larger than any prior transaction and provides significant organic growth over the coming years through completion of the development projects and volume-linked or contractually increasing returns, and by increasing ENF ownership in the assets over time." Mr. Lechem notes the "strong fundamental outlook" and "lower-risk" business model, and called a price target of $40 (down from $41) "attainable." Analysts on average target Enbridge Income shares at $42.09. Mr. Lechem continues to rate Enbridge Income "sector outperformer." The Globe reported on Aug. 22 that CIBC analyst David Noseworthy targeted Enbridge Income shares at $41. The shares were then worth $30.70.