BMO Capital analyst John Gibson upgraded Enerflex to Outperform from Market Perform with a price target of C$10, up from C$8, post the Q4 report. The analyst now has more confidence in the company’s ability to lower volatility in 2024 results, particularly as working capital levels move to more stable levels. The upgrade reflects greater confidence in the company’s ability to generate strong levels of free cash flow in 2024, the analyst tells investors in a research note.
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