The Globe and Mail reports in its Thursday, Feb. 5, edition that Raymond James analyst Michael Barth has downgraded Enerflex to "outperform" from "strong buy." The Globe's David Leeder writes that Mr. Barth continues to target the shares at $26. Analysts on average target the shares at $25.01. Mr. Barth says in a note: "We upgraded [Enerflex] in early December and simultaneously added it to our '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 stock has since returned 30 per cent in less than two months, outperforming the rest of our OFS coverage by 21 per cent, [iShares S&P/TSX Capped Energy Index ETF] by 24 per cent, and the SPTSX by 31 per cent." The Globe reported on March 1, 2024, and Feb. 28, 2025, that Mr. Barth rated Enerflex "outperform." The shares could then be had for $8.45 and $11.51. The Globe reported on Dec. 11, 2025, that Mr. Barth had upgraded Enerflex to "strong buy." The shares were then going for $21.60. The Globe reported on Jan. 16, 2026, that RBC had reaffirmed its "outperform" call on Enerflex, which was then going for $22.54.