Enerflex Ltd. (EFX.TO, EFXT) was upgraded to Strong Buy from Outperform at Raymond James.
Analyst Michael Barth raised his price target on shares of the Calgary-based energy infrastructure and energy transition solutions company to $25 from $24.50.
Barth said EFX offers "the best risk/reward in our coverage universe."
"The business has finally turned the corner operationally, the balance sheet is in great shape, secular gas tailwinds behind the legacy business are strong, and plenty of upside optionality exists that we believe investors get for free today," the analyst said in a note to clients.
"Our target moves modestly higher... on revised estimates which represents 26% upside to the current share price, and still includes no value for a successful Kurdistan resolution or success in the power vertical," Barth said.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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