<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>

安橋

<p>CFRA 對 Enbridge Inc.的股票維持持有評級，將 12 個月目標價上調至 70 加元。該估值基於相對估值和現金流折現模型分析的結合。2025 年的每股收益預估下調至 2.92 加元，而 2026 年的預估上調至 3.19 加元。Enbridge 面臨着複雜的逆風和順風，Line 5 管道存在監管風險。股票收益率為 5.5%</p>

研究警報：CFRA 維持對安橋公司股票的持有評級