[united]

To me, a Stanley Cup contender needs the following in its core:
Two elite players in any position.
A solid checking line.
Average or better goaltending.

In my mind, the Flames have:
Three elite players in Giordano, Hamilton, and Gaudreau.
An elite checking line in the 3M line.
And I expect Smith to be around league average which is fine. Better is a bonus.

Given that, the Flames are absolutely cup contenders. The difference among the various contenders is depth, where the Flames are stacked on defence but lacking on offence. A Bennett breakout year and/or adding Jagr would make the Flames extremely formidable.