I would say that yes... as of right now you could consider the Flames to be Stanley Cup contenders. I mean theoretically any team in a playoff spot is a "Stanley Cup Contender" but really who considers the bubble teams to be legit contenders? In terms of points and goal differentials the Flames are currently in the top 25% of teams (which is where I put my arbitrary cutoff for legit contender) their underlying numbers are largely good and they'd walk into the first round of the playoffs with home ice advantage.
Good enough for me to call them a contender.
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