10:58 AM EDT, 05/12/2025 (MT Newswires) -- Enbridge's ( ENB ) 's price target has been raised to C$64 from $63 while its Sector Perform rating remains unchanged, National Bank of Canada said in a note over the weekend.

The higher price target aligned with the bump to the bank's estimates. The company reported an adjusted EBITDA of $5.8 billion, above the bank's estimate and the Street forecast of $5.5 billion.

It kept the rating with the stock up 25% over the past year and now trading at just about 0.5x below its 10-year average EV/EBITDA multiple of 13.0 times.

Meanwhile, Enbridge ( ENB ) maintained its Outperform rating and $67 price target at RBC Capital Markets.

RBC said: "While history has shown that Enbridge's ( ENB ) stock sentiment may sometimes be impacted by weak commodity price environments (e.g., tying the fortunes of upstream customers to their infrastructure provider, like Enbridge ( ENB )), we believe Enbridge's ( ENB ) achievements like consistently delivering solid financial performances (e.g., Q1/25 results were stronger than expected) and moving forward with attractive risk adjusted investments highlight the resiliency of the company's cash flow

and growth.

It added: "We believe Enbridge ( ENB ) remains an attractive large-cap defensive stock amid the macro uncertainty, and is strategically positioned to capture low-risk growth as it serves all forms of energy demand."

Enbridge ( ENB ) traded more than 3% lower at last look Monday to $62.20 on the TSX.

Price: 62.29, Change: -2.01, Percent Change: -3.13