May 3, 2019 / 10:56 AM / a year ago

BUZZ-Enerflex Ltd: A victim of its own success - NBC

** National Bank of Canada downgrades Enerflex Ltd to “sector perform” from “outperform”; cuts PT to C$20.50 from C$22.50

** Brokerage views EFX being a victim of its own success as the record backlog moves through suggesting an inability to meet timelines of new customers and win new business

** NBC says EBIDTA was in line, but backlog and more importantly backlog growth was below its expectations

** Backlog declined by C$227 mln to C$1.2 bln - NBC

** Enerflex reported Q1 EPS of C$0.19 v/s analysts’ ests of C$0.33; revenue of C$484.9 mln v/s ests of C$519.5 mln - Refinitiv data

** Experienced lower booking activity in the quarter - CEO J. Blair Goertzen

** All 9 brokerages rate the stock “buy”; median PT C$24.50

** Up to Thursday’s close, stock up 10.3% this year (Reporting by Shanti S Nair in Bengaluru)

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