Viewing Expert Christine Poole | StockChase
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Compiling comments that experts make about stocks while on public TV.

Viewing Expert

Christine Poole , CEO & Managing Director

GlobeInvest Capital Management


Date Signal Chart Symbol Company Opinion Price
2017-10-11 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. We have synchronized global growth and low interest rates. The MIS increased its outlook for global economic growth. It was 3.2% in 2016, and has been upgraded to 3.6% for this year and 3.8% for 2018. The US and Canadian Central Banks have started to raise rates, and it looks like the UK may be the third. There is little inflationary pressure, so she doesn’t expect interest rate increases will be very rapid and will be well telegraphed. She likes financials generally, because a rising interest rate environment will help their margins, and improving economies will help their business.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
_N/A
2017-10-11 BUY Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Canadian Banks? She likes Canadian banks as a group. They’ve picked up in performance in the last few months, because they were flat, up until a few months ago. In this environment of an improving Canadian economy, it looks like energy problems are largely behind us and a rising interest rate environment is good for the banks. Forward P/E ratios are slightly above the 10-year historical averages, as is P/BV, another important valuation metric, where they are slightly below. They can kind of grow that mid-single digit 5%-7% earnings growth. All the banks have committed to a target payout ratio of 40%-50%. She owns Toronto Dominion (TD-T), Royal (RY-T) and Bank of Montréal (BMO-T), which all have US exposure which will be beneficial in a growing US economy.  She also owns Bank of Nova Scotia (BNS-T) which is in a higher growth area.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Unknown
2017-10-11 HOLD Must be logged in to use chart AQN-T Algonquin Power & Utilities Corp

A good, long term investment. The yield is very attractive. If there is a spike in interest rates, all yields in utilities will pull back. The company has done well.


Price:
$13.610
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2017-10-11 PARTIAL SELL Must be logged in to use chart ATD.B-T Alimentation Couche-Tard (B)

This has done very well. Growth through acquisitions. They’ve benefited from a lot of big oil companies getting out of retail. Have also bought assets overseas. They tend to integrate assets quite well. Because they are gas stations, there is a question about traffic weakening or electric cars, and what is going to happen to gas stations. Expects the company will make some moves to address that. The stock has never been priced inexpensively, and the multiple is quite full. If you’ve done well on this, it probably would be prudent to take some money off the table.


Price:
$58.940
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Unknown
2017-10-11 COMMENT Must be logged in to use chart BIP.UN-T Brookfield Infrastucture Partners

Inter Pipeline (IPL-T) or Brookfield Infrastructure Partners (BIP.UN-T)? She would encourage Canadians to look outside of Canada, so Brookfield Infrastructure would probably offer more opportunities. Also, there is not as much exposure to crude oil prices as Inter Pipeline would have.


Price:
$53.760
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Unknown
2017-10-11 COMMENT Must be logged in to use chart CCL.B-T CCL Industries (B)

This grows by acquisitions as well as some organic growth. A relatively well managed company. A lot of their earnings come from outside of Canada. This is one she watches, but it always trades at a premium. Would take a closer look if there was a pullback in the stock.


Price:
$63.940
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
No
2017-10-11 PARTIAL BUY Must be logged in to use chart CGX-T Cineplex Inc

Fell back on a weak quarter because of a weak slate of movies. The next quarter will also be weak. For new clients, she buys a half a position, and slowly eases into it. There is nothing structurally wrong with the company, so doesn’t think the stock price will drop much further. It always trades at a premium to its US peers because of the large market share they have in Canada, over 80%. They have other revenue streams that are diversifying and growing, such as their rec rooms which have been doing quite well. Bringing E gaming into their theatres, and that sport seems to be gaining momentum. In a few years, those extras will make them less reliant on the movie slate.


Price:
$38.650
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2017-10-11 HOLD Must be logged in to use chart CNQ-T Canadian Natural Rsrcs

A name she would potentially add to her portfolios if she wanted to increase her energy exposures. There is very little visibility in the next 12 months, because everyone is questioning if oil prices are going to move up. This one has held up relatively better than most of the producers.


Price:
$41.500
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
No
2017-10-11 DON'T BUY Must be logged in to use chart CXR-T Concordia International Corp

She wouldn’t be buying this now, even though the stock price has come down dramatically from what it was a few years ago. This has only been public for about 4-5 years, and they’ve been buying assets. There is a lot of pricing pressure on the drugs they bought and paid a lot for. Has a lot of debt on their balance sheet. Debt to Enterprise EBITDA is over 11X. There is a big question as to how they are going to repay the debt when it comes due. Based on what they have now, it doesn’t seem sufficient.


Price:
$1.490
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
No
2017-10-11 BUY Must be logged in to use chart DIS-N Walt Disney

She is buying this for her new clients. The media sector as a whole has had an overhang, in terms of how people are consuming media and how it is going to be priced going forward. What they have going for them is their content and the type of content. ESPN is a big overhang, because people are streaming and not buying the big cable packages. Sports is a type of medium that people generally want to watch live. They announced they’re going to launch a consumer product for ESPN next year. Eventually they see it as a “pick and pay” where you can choose specific shows. They’ve also announced a consumer product for 2019 for their Disney content. For a long-term investment, this is an attractive entry point.


Price:
$98.550
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2017-10-11 PAST TOP PICK Must be logged in to use chart ENB-T Enbridge

(A Top Pick Oct 12/16. Down 6%.) Hadn’t done as well as expected. It is a pipeline stock and is interest sensitive. Rising interest rates have worked against all interest sensitive stocks. In the last few months, anything energy related had investors backing away, which hit the pipelines. They also have the Line 3 replacement in their backlog, and still have to get Minnesota’s regulatory approval. In a slowly rising rate environment this is quite attractive, and you are getting paid to wait. She would still be a buyer.


Price:
$51.980
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2017-10-11 HOLD Must be logged in to use chart ENF-T Enbridge Income Fund Holdings

This contains Enbridge’s (ENB-T) mainline assets. There is probably less growth than there is in Enbridge the parent, but the yield is higher. Thinks the dividend is safe, but there is probably less growth. Dividend yield of 6.4%.


Price:
$32.210
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Unknown
2017-10-11 PAST TOP PICK Must be logged in to use chart FTS-T Fortis Inc.

(A Top Pick Oct 12/16. Up 14%.) An electric utility, so it is insulated from commodity exposure. She likes the US acquisition they did, which really expanded their presence in the US. 60% of earnings will be coming from the US. They’ve indicated they can increase their dividend by 6% annually until 2021.


Price:
$45.460
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
2017-10-11 HOLD Must be logged in to use chart GE-N General Electric

This has lagged the market and its industrial peers. They have gone through a lot of change, getting out of their financial services in order to grow their industrial segment. Have a new CEO and there will be a new CFO coming in. Earnings target for next year was set by the previous CEO, but that is probably not going to be made and the stock has been coming up. The dividend yield is over 4%. Even high quality industrial companies tend to have a yield of around 2.5%, so the company may reset the dividend.


Price:
$23.070
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
No
2017-10-11 HOLD Must be logged in to use chart HD-N Home Depot

This will benefit from hurricane reconstruction, but that is short-term temporary. The reason to own is because of the GDP growth in the US and the increasing household formations. Over two thirds of existing housing is over 30 years old, which is positive for renovators. Also, household turnovers and employment levels are improving. New housing inventory is very low in the US, so more people are choosing to stay in existing homes, and to renovate and upgrade. The one retail sector that has been relatively insulated from Amazon (AMZN-Q). Wait for a pullback.


Price:
$165.250
Subject:
NORTH AMERICAN - LARGE
Bias:
OPTIMISTIC
Owned:
Yes
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