Goldman Sachs Upgrades Enbridge (ENB) to Buy

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Goldman Sachs upgraded Enbridge (NYSE: ENB) (ENB.TO) from Neutral to Buy with a price target of $46.00.

The firm cited: (1) the massive growth in western Canadian and US oil supply, which should drive increased oil infrastructure investments for the industry, (2) ENB.TO's well positioned asset base, which touches multiple key supply sources such as the oil sands/Bakken and demand markets, including the highly strategic Gulf Coast refining complex, and (3) Enbridge's large number of low-risk, fee-based organic growth projects.

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 $39.82 yesterday, with a 52 week range of $33.16-$42.06.

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