The Globe and Mail reports in its Friday edition that National Bank Financial analyst Dan Payne has elevated his recommendation for Enerflex to "outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Payne has an unchanged share target of $10. Analysts on average target the shares at $10.53. Mr. Payne says Enerflex appears "to be turning the corner." Mr. Payne says he believes Enerflex's recent operations update is "implying a solid profile of recent earnings, free cash and deleveraging." Mr. Payne says in a note: "Certainly a positive trend for a company that is in the midst of re-establishing its credibility with the Street, and with continued maintenance of its outlook, with '24 returns expected to be intact on a level-set capital program (i.e., $135-million 2024 estimated vs. $175-million 2023e) to support meaningful free cash generation in support of deleveraging (below its less than 2.5 times D/EBITDA target) before pivoting towards a sustainable inflection to its dividend in the medium-to-long term. ... Reinvestment for the time remains disciplined and moderate growth capex (30-per-cent allocation) will be allocated toward return-oriented opportunities."