The Globe and Mail reports in its Friday, May 8, edition that National Bank Financial analyst Dan Payne has upgraded Enerflex to "outperform" from "sector perform." The Globe's David Leeder writes that Mr. Payne's share target soared $11 to $42.40. Analysts on average target the shares at $37.96. Mr. Payne says in a note: "Consistency and quality has been established, while solid activity levels and continued high-grading of margins (through new business, synergies and efficiencies) continues to be noted, with contributions from; a) engineered systems ($328-million revenue, down 3 per cent quarter-over-quarter and 18.9-per-cent gross margin, up 130 basis points), with its backlog notably expanding, and b) energy infrastructure ($149-million, down 5 per cent quarter-over-quarter and 63.8 per cent, up 760 basis points, including non-recurring contract bonus paid), which in association with AMS [after-market services] ($107-million, down 19 per cent quarter-over-quarter and 20.6 per cent, down 110 basis points), continued to deliver structural and high-margin returns. ... The business has stabilized and inflected higher in association with meaningful structural tailwinds from thematic market opportunities."