Time to Buy Enerflex Ltd After Today’s Gap Up?

 Time to Buy Enerflex Ltd After Today's Gap Up?

The stock of Enerflex Ltd (TSE:EFX) gapped up by $0.01 today and has $23.72 target or 53.00% above today’s $15.50 share price. The 5 months technical chart setup indicates low risk for the $1.37 billion company. The gap was reported on Nov, 14 by Barchart.com. If the $23.72 price target is reached, the company will be worth $726.10M 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 309,500 shares traded hands or 19.04% up from the average. Enerflex Ltd (TSE:EFX) has risen 48.00% since April 8, 2016 and is uptrending. It has outperformed by 43.02% the S&P500.

Enerflex Ltd (TSE:EFX) Ratings Coverage

Out of 5 analysts covering Enerflex (TSE:EFX), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. Enerflex has been the topic of 20 analyst reports since July 21, 2015 according to StockzIntelligence Inc. TD Securities maintained the shares of EFX in a report on Friday, August 7 with “Buy” rating. The firm has “Outperform” rating given on Monday, August 10 by BMO Capital Markets. On Friday, August 7 the stock rating was downgraded by Scotia Capital to “Sector Perform”. The stock of Enerflex Ltd (TSE:EFX) has “Market Perform” rating given on Tuesday, August 11 by Raymond James. IBC upgraded it to “Sector Outperformer” rating and $16.50 target price in Wednesday, September 23 report. The firm has “Outperform” rating given on Friday, August 7 by Scotia Capital. TD Securities maintained the stock with “Buy” rating in Monday, September 19 report.

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 Marketwired.com published article titled: “Enerflex Ltd. Announces Closing of Bought Deal Financing Including Exercise in …”, Theglobeandmail.com published: “Enerflex Ltd. not a risk-free environment” on August 12, 2015. 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 $1.37 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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