Enerflex downgraded to Outperform from Strong Buy at Raymond James

Raymond James downgraded Enerflex (EFXT) to Outperform from Strong Buy with a C$26 price target The firm upgraded the stock to Strong Buy in early December and added it to its Analysts’ Best Picks for 2026 list on the view that secular tailwinds in the core business, emerging opportunities in the power vertical, and other optionality was being underappreciated by investors, the analyst tells investors in a research note. The firm noted that the stock has since returned +30% in under two months, and given the impressive absolute and relative performance is downgrading the shares. While Raymond James still sees a reasonable valuation and multiple potential near-term catalysts, the stock is no longer in “pound the table” territory, the analyst adds.