<div id="readability-page-1"><p>02:55 PM EST, 11/21/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:</p><p>We lift our 12-month target price by CAD1 to CAD70, reflecting a combination of our relative valuation and DCF model analyses. On a relative basis, we apply an 11.8x multiple of enterprise value  to projected 2026 EBITDA, in line with ENB's historical forward average. That approach yields a value of CAD64 per share. Meanwhile, our DCF model, using free cash flow growth of 5.5% per year for 10 years, 2.0% thereafter, discounted at a WACC of 6.1%, yields a value of CAD75 per share. We cut our 2025 EPS estimate by CAD0.11 to CAD2.92, but lift 2026's by CAD0.09 to CAD3.19. ENB is facing a mixed bag of headwinds and tailwinds, with crude oil fundamentals in the former camp, and natural gas in the latter camp. We also note ongoing regulatory risk surrounding ENB's Line 5 pipeline in Michigan and Wisconsin. Much of ENB's project backlog is gas-related, which we think has solid long-term prospects, but its valuation appears fairly full at the moment. Shares yield 5.5%.</p> <p>MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.</p></div>

安桥

<p>CFRA 对 Enbridge Inc.的股票维持持有评级，将 12 个月目标价上调至 70 加元。该估值基于相对估值和现金流折现模型分析的结合。2025 年的每股收益预估下调至 2.92 加元，而 2026 年的预估上调至 3.19 加元。Enbridge 面临着复杂的逆风和顺风，Line 5 管道存在监管风险。股票收益率为 5.5%</p>

研究警报：CFRA 维持对安桥公司股票的持有评级