11 Cheap Canadian Stocks to Buy Now

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1. Enerflex Ltd. (NYSE:EFXT)

Forward P/E Ratio as of July 22: 11.79

Number of Hedge Fund Holders: 15

Average Upside Potential as of July 22: 37.66%

Enerflex Ltd. (NYSE:EFXT) is one of the cheap Canadian stocks to buy now. On July 14, Enerflex announced that it has extended its syndicated secured revolving credit facility/RCF. An amended and restated credit agreement, dated July 11 this year, has pushed the RCF’s maturity date forward by 3 years, to July 11 in 2028.

The total availability under the RCF remains unchanged at $800 million. As of March 31, Enerflex had drawn $117 million from this facility. Royal Bank of Canada serves as the agent for the RCF, and Enerflex confirmed that all current syndicate members have renewed their lending commitments.

Additionally, the company maintains a separate $70 million unsecured credit facility/LC Facility with one of its RCF syndicate lenders, which is backed by performance security guarantees from Export Development Canada.

Enerflex Ltd. (NYSE:EFXT) offers energy infrastructure and energy transition solutions in North America, Latin America, and the Eastern Hemisphere.

While we acknowledge the potential of EFXT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than EFXT and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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