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Research Alert: CFRA Keeps Hold Opinion On Shares Of Enbridge Inc.

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of USD59 (raised by USD2) reflects a combination of relative valuation and a DCF model analysis. On a relative basis, we apply a 12.5x multiple of enterprise value to projected 2027 EBITDA, about in line with ENB's historical forward average. This approach yields a value of USD52 per share. Meanwhile, our DCF model, using free cash flow growth of 9% for 10 years, 2% thereafter, discounted at a WACC of 4.9%, yields intrinsic value of USD66 per share. We cut our 2026 EPS estimate by CAD0.21 to CAD2.90, but raise 2027's by CAD0.07 to CAD3.36. ENB is a highly diversified midstream name, with franchise assets in Liquids Pipelines (the Mainline system), which is relatively slow-growing, but complemented by faster-growing assets in Gas Transmission and Gas Distribution and Storage. The overall project backlog of CAD40 billion is extensive, and ENB expects to place CAD8.0 billion into service in 2026. Shares yield 5.3%.

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