The Globe and Mail reports in its Friday, Jan. 5, edition that ATB Capital analyst Nate Heywood has commenced coverage on Enbridge with an "outperform" recommendation. The Globe's David Leeder writes that Mr. Heywood, seeing Enbridge "commanding a top tier valuation," set a one-year share target of $56. Analysts on average target the shares at $53.34. Mr. Heywood says in a note: "[Enbridge] is structurally supportive of energy transition initiatives through its growing focus on natural gas and renewables. Enbridge maintains a significant secured growth program and continues to employ a self-funded equity model to help maintain its attractive leverage position. With the expected execution of recent material acquisitions, Enbridge is expected to continue to maintain financial discipline and aims for leverage to remain within its 4.5 to five times range. ... Overall, we view Enbridge as a name that attracts a premium valuation in the energy infrastructure space given its significant scale, unique export exposure and growing predictable cash flow base. ... Enbridge provides upside in a dovish interest rate environment and the near-term portfolio growth should attract interest given its self-funding philosophy."