The stock of Enerflex Ltd (TSE:EFX) gapped up by $0.72 today and has $20.66 target or 39.00% above today’s $14.86 share price. The 9 months technical chart setup indicates low risk for the $1.31B company. The gap was reported on Nov, 10 by Barchart.com. If the $20.66 price target is reached, the company will be worth $510.90 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 112,330 shares traded hands. Enerflex Ltd (TSE:EFX) has risen 37.59% since April 6, 2016 and is uptrending. It has outperformed by 31.94% the S&P500.
Enerflex Ltd (TSE:EFX) Ratings Coverage
Out of 5 analysts covering Enerflex (TSE:EFX), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. $18.50 is the highest target while $13 is the lowest. The $16.16 average target is 8.75% above today’s ($14.86) stock price. Enerflex has been the topic of 18 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was downgraded by Scotia Capital to “Sector Perform” on Friday, August 7. The firm earned “Buy” rating on Monday, September 19 by TD Securities. The firm has “Market Perform” rating by Raymond James given on Tuesday, August 11. On Wednesday, September 23 the stock rating was upgraded by IBC to “Sector Outperformer”. Scotia Capital downgraded it to “Outperform” rating and $17 target price in Friday, August 7 report. The stock has “Buy” rating given by TD Securities on Friday, August 7. The rating was maintained by BMO Capital Markets on Monday, August 10 with “Outperform”.
More important recent Enerflex Ltd (TSE:EFX) news were published by: Marketwired.com which released: “Enerflex Ltd. Announces $100 Million Bought Deal Financing” on August 16, 2016, also Theglobeandmail.com published article titled: “Enerflex Ltd. not a risk-free environment”, Marketwired.com published: “Enerflex Ltd. Announces Closing of Bought Deal Financing Including Exercise in …” on September 07, 2016. More interesting news about Enerflex Ltd (TSE:EFX) was released by: Reuters.com and their article: “BRIEF-Enerflex Ltd announces $100 mln bought deal financing” with publication date: August 16, 2016.
Enerflex Ltd. is a Canada-based supplier of natural gas compression, gas and oil processing, refrigeration systems and electric power equipment. The company has a market cap of $1.31 billion. The Company’s in‐house resources provide the capability to engineer, design, manufacture, construct, commission and service hydrocarbon handling systems. It currently has negative earnings. The Firm operates through three divisions: Canada, USA and Rest of World.
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