Best Idea Enbridge: After an Impressive Quarter, the Stock is Trading at a Deep Discount
After updating our model for Enbridge’s fourth-quarter results, we are maintaining our CAD 64 fair value estimate. However, due to changes in foreign exchange rates, we are increasing our USD fair value estimate to $51 per share from our previous estimate of $50. Trading near $34 (CAD 43), the stock is trading at a deep discount to its fair value estimate, and we see significant upside. We think the market doesn't realize the full potential of Enbridge's growth portfolio, which is highlighted by...
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