Goldman Sachs Downgrades Enbridge (ENB) to Neutral

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Goldman Sachs downgraded Enbridge (NYSE: ENB) from Buy to Neutral with a price target of $37, largely on valuation.

The firm said Enbridge "remains extremely well-positioned to take advantage of
burgeoning crude oil supply growth in western Canada and the Bakken shale given its leading infrastructure footprint in both markets." However, the firm said valuation looks to be ahead of fundamentals.

For an analyst ratings summary and ratings history on Enbridge click here. For more ratings news on Enbridge click here.

Shares of Enbridge closed at $38.86 yesterday, with a 52 week range of $28.50-$67.31.

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Related Entities

Goldman Sachs, Bakken Formation, Crude Oil

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