Enerflex price target raised to $12 from $9 at RBC Capital

RBC Capital raised the firm’s price target on Enerflex (EFXT) to $12 from $9 and keeps an Outperform rating on the shares. The company reported a solid quarter with a 50% dividend bump, also having made solid progress on key items to reducing its valuation discount to historical levels, the analyst tells investors in a research note. RBC is boosting its assumed EBITDA multiple for Enerflex to 5-times from 4.5-times on increased free cash flow margins.