The stock of Enerflex Ltd (TSE:EFX) gapped up by $0.22 today and has $18.84 target or 8.00% above today’s $17.44 share price. The 6 months technical chart setup indicates low risk for the $1.52B company. The gap was reported on Nov, 30 by Barchart.com. If the $18.84 price target is reached, the company will be worth $121.60 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 91,013 shares traded hands. Enerflex Ltd (TSE:EFX) has risen 36.51% since April 26, 2016 and is uptrending. It has outperformed by 31.28% 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. $23 is the highest target while $13 is the lowest. The $17.16 average target is -1.61% below today’s ($17.44) stock price. Enerflex has been the topic of 20 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by BMO Capital Markets on Monday, August 10. Scotia Capital downgraded Enerflex Ltd (TSE:EFX) rating on Friday, August 7. Scotia Capital has “Outperform” rating and $17 price target. TD Securities maintained Enerflex Ltd (TSE:EFX) on Monday, September 19 with “Buy” rating. The rating was downgraded by Scotia Capital on Friday, August 7 to “Sector Perform”. The stock has “Market Perform” rating given by Raymond James on Tuesday, August 11. The firm has “Sector Outperformer” rating by IBC given on Wednesday, September 23. The stock of Enerflex Ltd (TSE:EFX) earned “Buy” rating by TD Securities on Friday, August 7.
More 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 the news titled: “Enerflex Ltd. Announces Closing of Bought Deal Financing Including Exercise in …” on September 07, 2016. Theglobeandmail.com‘s news article titled: “Enerflex Ltd. not a risk-free environment” with publication date: August 12, 2015 was also an interesting one.
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 $1.52 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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