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UPDATE: BMO Capital Markets Reiterates Outperform Rating, Raises PT on Enbridge

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In a report published Friday, BMO Capital Markets reiterated its Outperform rating on Enbridge (NYSE: ENB), and raised its price target from $47.00 to $50.00.

BMO Capital noted, “Our 2013 EPS estimate notches down $0.04 to $1.84 (slightly above the guidance midpoint) given 1) the drag from last week's $400mm preferred equity offering and 2) $0.02 lower EPS from softer energy services and processing. However, our future outlook has increased with our 5-year EPS CAGR rising to 12.5% from 11%.”

Enbridge closed on Thursday at $40.35.

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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