Downgrade National Bank of Canada downgraded Enerflex Ltd. (EFX.TO) to sector perform from outperform while maintaining the company's $10.75 price target.
"The value opportunity of execution remains ahead for the company, where asset integration, validation of returns and ultimate de-leveraging should serve to support option-value to long-term shareholder returns," the bank said.
National Bank made the revision as it transferred coverage of the company to Dan Payne.