There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on Enbridge (ENB) and Sunoco (SUN) with bullish sentiments.
Enbridge (ENB)
In a report issued on May 10, Robert Kwan from RBC Capital maintained a Buy rating on Enbridge, with a price target of C$52.00. The company’s shares closed last Tuesday at $39.86, close to its 52-week high of $40.36.
According to TipRanks.com, Kwan is a 5-star analyst with an average return of 15.0% and a 75.7% success rate. Kwan covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, AltaGas, and Fortis.
Enbridge has an analyst consensus of Strong Buy, with a price target consensus of $44.21, an 11.3% upside from current levels. In a report issued on May 7, CIBC also reiterated a Buy rating on the stock with a C$52.00 price target.
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Sunoco (SUN)
RBC Capital analyst Elvira Scotto maintained a Buy rating on Sunoco on May 10 and set a price target of $38.00. The company’s shares closed last Tuesday at $34.83, close to its 52-week high of $36.86.
According to TipRanks.com, Scotto is a 5-star analyst with an average return of 21.1% and a 63.9% success rate. Scotto covers the Industrial Goods sector, focusing on stocks such as Cheniere Energy Partners, Dcp Midstream Partners, and Crossamerica Partners.
Currently, the analyst consensus on Sunoco is a Moderate Buy with an average price target of $36.20, which is a 3.7% upside from current levels. In a report issued on May 6, Raymond James also assigned a Buy rating to the stock with a $38.00 price target.
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