Jefferies Highlights Enbridge’s (ENB) Pipeline Strengths and Growth Potential

Enbridge Inc. (NYSE:ENB) ranks among the best performing energy stocks to buy now. On July 23, Jefferies raised its price target for Enbridge Inc. (NYSE:ENB) from C$65 to C$72, upgrading the stock from Hold to Buy. Jefferies noted Enbridge’s “widest opportunity set across both oil and gas pipelines,” which gives the company a great deal of flexibility to explore a range of projects and boosts confidence in its EBITDA growth potential.

Jefferies Highlights Enbridge’s (ENB) Pipeline Strengths and Growth Potential

According to Jefferies, Enbridge’s primary assets that put the company in a favorable competitive position include its ownership of the TETCO pipeline system, its leading role in the transportation of crude oil in Canada, and its growing presence in the Permian Basin.

Despite admitting that “the magnitude of the gap isn’t incredibly wide,” Jefferies stated it favors Enbridge Inc. (NYSE:ENB) due to its stronger screening across a number of key metrics.

Enbridge Inc. (NYSE:ENB) is a midstream energy company that specializes in the distribution and transportation of natural gas, oil, and natural gas liquids.

While we acknowledge the potential of ENB to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ENB and that has 100x upside potential, check out our report about this cheapest AI stock.

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