UPDATE: Canaccord Genuity Downgrades Enbridge to Hold on Share Price Appreciation - Enbridge (NYSE:ENB)

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Canaccord Genuity downgraded Enbridge (NYSE: ENB) from Buy to Hold.Canaccord Genuity analyst Juan Plessis noted, "The shares of Enbridge have risen close to 16% since the beginning of December and are now nearing our C$48.00 target price, representing a total return of 6% including the 2.7% dividend yield. As a result of the recent share price strength, we are lowering our rating to HOLD from Buy. Enbridge continues to develop an attractive $27 billion portfolio of commercially secured growth projects with an additional $3 billion that could be secured in the near future. The company's strong visible growth profile should allow the company to deliver close to 12% annual EPS through 2017, likely with dividend increases. However, we believe the current share price reflects the company's strong growth profile."Enbridge closed at $45.83 on Friday.

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