Enerflex Receives a Buy from Scotiabank

By Carrie Williams

In a new note to investors on June 19, an analyst has provided a rating update for the Conglomerates sector company, Enerflex (TSX: EFX). On June 19, analyst Vladislav Vlad gave a Buy rating to EFX and set a C$30 price target.

Vlad has an average return of 10.4% when recommending Enerflex.

According to TipRanks.com, Vlad is ranked #991 out of 4573 analysts.

Currently, the analyst consensus on Enerflex is Strong Buy and the average price target is C$25.80, representing a 53.0% upside.

In a report issued on June 7, RBC Capital also reiterated a Buy rating on the stock with a C$24 price target.

Based on Enerflex’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$355 million and quarterly net profit of C$24.41 million. In comparison, last year the company earned revenue of C$272 million and had a GAAP net loss of C$93.27 million.

Enerflex Ltd. engages in the manufacture and distribution of equipment for gas compression facilities, power plants, and other industrial institutions. It operates through the following geographical segments: Canada, USA, and Rest of World. The company was founded on June 1, 2011 and is headquartered in Calgary, Canada.

The company’s shares closed last Tuesday at $16.86.