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Enbridge Down Nearly 2% While Firm Works to Contain Michigan Spill - Credit Suisse Lifts Price Target But Expects Short-Term Declines

Enbridge Inc. (ENB.TO) is down another 2% Thursday as the company struggles to contain damage from a pipeline spill leaking thousands of barrels of crude into Talmadge Creek and the Kalmazoo River in Michigan.

Michigan Gov. Jennifer Granholm has been slamming ENB, calling its response insufficient to the spreading environmental disaster.

Credit Suisse on Thursday lifted its target price for ENB stock to $54 from $50 but kept its Neutral rating, citing the company's recent Q2 results. Credit Suisse also said it expects the spill to hurt ENB's near-term stock price.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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