Enbridge (ENB) is well-positioned to benefit from global energy security trends and rising demand for energy infrastructure, which are creating expanded opportunities across its businesses, RBC Capital Markets said.
The investment firm said in a Sunday research note that Enbridge's platform and scale, alongside an evolving macro for energy infrastructure, are supporting accelerated growth opportunities and a more durable growth trajectory that could extend beyond 2030.
RBC said energy security concerns, reinforced by recent geopolitical developments, are likely to increase reliance on the US Gulf Coast and Canada to meet global energy demand, even after near-term disruptions ease.
The brokerage also highlighted high system utilization and strong pipeline activity, along with LNG-linked demand in the US Gulf Coast, reinforcing Enbridge's role in meeting global energy needs.
RBC raised its price target to CA$79 ($57.82) from CA$76, with an outperform rating, citing a more durable growth outlook and a higher valuation multiple.
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