The Globe and Mail reports in its Friday edition that Raymond James analyst Michael Barth is keeping his "outperform" ranking for Enerflex intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Barth advanced his share target by 50 cents to $11.50. Analysts on average target the shares at $10.70. Mr. Barth says in a note: "While the market reacted positively to Enerflex's 4Q23 results, we still believe a significant discount to fair value exists, with 46-per-cent upside to our revised target of $11.50 per share. On our numbers, Enerflex is still trading at a 15-per-cent and 17-per-cent FCFE yield in 2024 and 2025. In our view, the market still underappreciates the stability of the core energy infrastructure and after-market service segments, which we estimate are now responsible for 65 to 70 per cent of run-rate Adj. EBITDA. Near-term concerns about engineered systems bookings also appear to be overblown, with bookings holding up well, and margins outperforming our initial estimates. Enerflex is spitting distance from what we view as a reasonable leverage target, and we continue to believe that increased shareholder returns via an NCIB and/or higher dividend are right around the corner."