Globe says ATB Capital keeps Enerflex at "outperform"
2024-02-06 08:40 ET - In the News
The Globe and Mail reports in its Tuesday, Feb. 6, edition that ATB Capital Markets analysts Tim Monachello and Waqar Syed have reaffirmed their "outperform" recommendation for Enerflex. The Globe's David Leeder writes that the ATB analysts boosted their share target by a loonie to $12. Analysts on average target the shares at $10.73. Mr. Monachello and Mr. Syed say in a note: "Laggard to Leader Opportunity: We believe Enerflex shares have turned a corner after rebounding roughly 25 per cent from 52-week lows and moving roughly 11 per cent higher year-to-date, still we believe sizable upside remains especially in the context of Enerflex shares still being off 38 per cent from 52-week highs despite only a 10-per-cent reduction in 2024 consensus EBITDA estimates from peak levels in May, 2023. Still, we believe the market remains somewhat hesitant to fully re-engage given 1) negative revisions to FCF expectations alongside its Q2/23 earnings, and 2) the sudden departure of its recently appointed CFO in October that spread fear of major unexpected internal problems across its investor base which we believe were largely unfounded. Still, we believe 2024 will include many catalysts that could drive a rerating."
Globe says RBC maintains Enerflex at "outperform"
2024-02-02 08:07 ET - In the News
The Globe and Mail reports in its Friday, Feb. 2, edition that RBC Capital Markets has added Enerflex to its "Global Energy Best Ideas" list for February. The Globe's David Leeder writes in the Eye On Equities column that RBC continues to rate Enerflex "outperform," with a $12 share target. Analysts on average target the shares at $10.53. RBC analyst Keith Mackay says in a note, "We believe that Enerflex is positioned for valuation accretion given the stock under performance in 2023 relative to its peers, with the potential for FC inflection in FY24 on strong fundamentals and merger integration progress." The Globe reported on Nov. 10 that Mr. Mackay had reaffirmed his "outperform" recommendation for Enerflex. The shares were then going for $6.09. The Globe reported on Jan. 19 that Stifel analyst Cole Pereira had reaffirmed his "buy" recommendation for Enerflex. It was then worth $6.87. The Globe reported on Oct. 13 and Jan. 26 that National Bank Financial analyst Dan Payne rated Enerflex "outperform." The shares could then be had for $5.83 and $7.14.