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Enerflex Ltd
Symbol EFX
Shares Issued 124,044,811
Close 2024-10-02 C$ 8.59
Market Cap C$ 1,065,544,926
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Globe says TD Cowen's MacNeil keeps Enerflex at "buy"

2024-10-03 07:55 ET - In the News

The Globe and Mail reports in its Thursday edition that TD Cowen's Aaron MacNeil has reaffirmed his "buy" recommendation and $11 share target for Enerflex. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $11.35. The Globe says Mr. MacNeil moved Enerflex to the top of his "pecking order" of clean technology and energy services stocks in his coverage universe on Wednesday, citing "its contracted/recurring cash flows and defensive attributes, with a high likelihood for increased shareholder returns in the near-term." Mr. MacNeil says in a note: "Management states that 'we see a visible path for Enerflex to increase shareholder returns.' ... Since Enerflex is comfortably in its leverage target range, we believe that a dividend increase could occur as early as Q3/24 results on Nov. 14, 2024. Enerflex has an annual dividend commitment of $9.4-million, 2025E simple payout ratio of 3.9 per cent and dividend yield of 1.2 per cent. In this context, Enerflex has the capacity to provide a competitive yield without a significant increase in its cash commitments, and we expect that it will err on the side of conservatism out of the gate, leaving room for future increases."

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