Raymond James Financial Forecasts Strong Price Appreciation for Enerflex (TSE:EFX) Stock

Key Points

• Raymond James raised Enerflex’s price target to C$53 from C$49 while maintaining an “outperform” rating, implying 42.36% upside from the previous close.
• Analyst sentiment is broadly positive: Enerflex has a consensus “Buy” rating and an average price target of C$38.23, with several firms recently increasing their targets or ratings.
• Shares fell 4.8% to C$37.23 in Wednesday trading. Enerflex reported quarterly EPS of C$0.36 on revenue of C$826.9 million, while analysts expect full-year EPS of C$0.73.

Enerflex (TSE:EFX - Get Free Report) had its price target lifted by investment analysts at Raymond James Financial from C$49.00 to C$53.00 in a research report issued on Wednesday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's price objective points to a potential upside of 42.36% from the company's previous close.

A number of other research analysts also recently issued reports on EFX. ATB Cormark Capital Markets boosted their price objective on Enerflex from C$47.00 to C$52.00 and gave the company an "outperform" rating in a research note on Friday, October 2nd. RBC Dominion Securities raised their target price on Enerflex from C$33.00 to C$35.00 and gave the stock an "outperform" rating in a research note on Wednesday. National Bank Financial set a C$42.50 target price on Enerflex and gave the stock an "outperform" rating in a research note on Thursday, June 18th. Acumen Capital lifted their target price on Enerflex from C$42.00 to C$48.00 and gave the stock a "buy" rating in a report on Friday, October 2nd. Finally, Canadian Imperial Bank of Commerce raised Enerflex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$38.23.

Enerflex Trading Down 4.8%

EFX traded down C$1.88 during midday trading on Wednesday, hitting C$37.23. 639,197 shares of the company were exchanged, compared to its average volume of 733,432. The firm has a market capitalization of C$4.55 billion, a P/E ratio of 84.61 and a beta of 1.87. Enerflex has a 1-year low of C$14.86 and a 1-year high of C$39.95. The firm's 50 day moving average price is C$31.15 and its 200-day moving average price is C$32.78. The company has a quick ratio of 1.20, a current ratio of 1.19 and a debt-to-equity ratio of 51.03.

Enerflex (TSE:EFX - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported C$0.36 EPS for the quarter. The business had revenue of C$826.90 million for the quarter. Enerflex had a return on equity of 5.26% and a net margin of 2.53%. As a group, equities analysts forecast that Enerflex will post 0.73 EPS for the current fiscal year.

Enerflex Company Profile

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value. With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future.

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