Enbridge (ENB.TO, ENB) was downgraded to Hold from Buy at TD Securities on Tuesday.
Analyst Aaron MacNeil raised his price target on shares of the Canadian energy infrastructure company to C$72.00 from C$70.00.
"We are downgrading Enbridge ... as part of a broader valuation-based sector call," MacNeil said in a note to clients.
"In our January 2026 Industry Update, we said that companies that provide visibility to long term growth will trade at a premium," the analyst said.
"Following strong share price performance YTD, we believe that this thesis has played out."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 69.62, Change: -2.71, Percent Change: -3.75