Enerflex Ltd. Leads TSX Gainers with 18% Weekly Surge
Shares of Calgary-based energy services company Enerflex Ltd. (EFX:TSX) surged nearly 18 percent on Thursday, positioning it among the top ten performers on the S&P/TSX composite index this week. The significant jump followed the company's earnings report, which exceeded analysts' expectations for earnings before interest, taxes, depreciation, and amortization (EBITDA) by an impressive 15 percent.
Analyst Upgrades and Price Target Revisions
TD Cowen analyst Aaron MacNeil responded to the strong results by meaningfully increasing his price target for Enerflex to $39 from $28, while reaffirming it as his top pick in the energy services sector. As of Friday's close, shares traded at $30.61, reflecting a year-to-date gain of nearly 48 percent.
MacNeil raised his EBITDA estimates for 2026 and 2027 by seven percent and ten percent, respectively. He emphasized that the shares appear undervalued compared to industry peers and deserve a premium valuation due to the growing power demand opportunity and broader energy sector multiple expansion.
The analyst anticipates that an investor day scheduled for spring could serve as a powerful catalyst for the stock. According to Bloomberg data, the average twelve-month price target among nine analysts stands at $34.35.
Big Six Bank Price Targets Adjusted Post-Earnings
Canada's Big Six banks recently concluded a fourth-quarter earnings season that generally received positive feedback from Bay Street. Following the reports, several analysts revised their price targets for major financial institutions.
Key Analyst Movements
- Toronto-Dominion Bank (TD:TSX): RBC Capital Markets analyst Darko Mihelic raised his price estimate to $148 from $133, citing a solid quarter with results surpassing expectations across multiple sectors. TD shares closed Friday at $132.88.
- Canadian Imperial Bank of Commerce (CM:TSX): Mihelic increased earnings estimates and hiked his price target to $158 from $134, noting CIBC is better positioned to manage challenges in a low loan-growth environment. CIBC shares ended the week at $137.79.
- Bank of Montreal (BMO:TSX): The analyst raised his price target to $219 from $178, highlighting better-than-expected pre-provision, pre-tax earnings driven by solid revenues and cost discipline. BMO shares closed at $196.31.
- Royal Bank of Canada (RY:TSX): Scotia Capital Markets analyst Mike Rizvanovic modestly increased his price target to $247 from $242, though he noted RBC's lagging share performance may reflect lower earnings per share growth and a tepid approach to share buybacks. RBC closed at $228.07.
- National Bank of Canada (NA:TSX): Rizvanovic raised his price target to $202 from $188, praising a very good set of results including a big beat in the Canadian personal and commercial loans sector. Shares finished at $190.37.
- Bank of Nova Scotia (BNS:TSX): TD Cowen analyst Mario Mendonca maintained his price target of $112, emphasizing the challenge for Scotiabank to improve loan growth, particularly in corporate and commercial banking. Shares closed at $103.44.
National Bank's Dividend Payer Picks for 2026
National Bank Capital Markets has updated its list of preferred dividend payers for the first half of 2026, suggesting these stocks could provide stability amid ongoing market volatility. With continued macroeconomic uncertainty and elevated market volatility, dividend stocks could regain favour with investors, National Bank Research stated in a note.
Selection Criteria and Top Performers
To qualify for the list, companies must have a yield of five percent or greater, a reasonable likelihood of dividend growth, and a positive outlook. The current portfolio of 23 companies features an average yield of 4.8 percent and an average payout ratio of 62.8 percent.
The top five companies based on dividend yield are:
- Automotive Properties REIT (APRU:TSX) with a yield of 7.2 percent
- Alaris Equity Partners Income Trust (AD/U:TSX) at 6.6 percent
- Gibson Energy Inc. (GEI:TSX) at 6.1 percent
- RioCan REIT (REI/U:TSX) at 5.9 percent
- Crombie REIT (CRR:TSX) at 5.6 percent
In the second half of last year, National Bank's dividend payer list returned 25.4 percent, outperforming the S&P/TSX composite, which returned 17.2 percent over the same period.
