The Globe and Mail reports in its Friday, Jan. 19, edition that Stifel analyst Cole Pereira has reaffirmed his "buy" recommendation for Enerflex. The Globe's David Leeder writes that Mr. Pereira boosted his share target to $13 from $11. Analysts on average target the shares at $10.47. Mr. Pereira says in a note: "Enerflex delivered a positive market update on Tuesday, highlighting that 4Q23 FCF generation and debt reduction tracked ahead of our estimates with capex lower than expected. While its 2024 capex guidance was higher than our prior estimates, it should be lower year-over-year and still drive significant forward FCF. Our EBITDAs forecasts are unchanged and while our FCF forecasts do decline 12 per cent in 2024 and 2025, forward FCF generation remains significant ($215-million in 2024 and $237-million in 2025 vs. $8-million in 2023E). We have raised our target multiple to 5.1 times 2025 estimated EV/EBITDAS to reflect the stock being derisked. ... We believe recent updates from the company have mitigated prior investor concerns on FCF generation, debt reduction and CFO departures. We believe if management continues to execute on these priorities the stock should continue to rebound and is a double from here."