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
2017-04-12 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Market. S&P 500 has rallied about 10% since the November election. There has been a lot of soft data in terms of sentiment/optimism by consumers and businesses. That has gone up a lot since the election in hopes of Trump’s pro-growth policies, tax cuts and regulatory reform coming into place. It hasn’t happened yet, and now we are seeing a lull, and the S&P 500 has been in a trading range for the last few months at the 2300-2400 range. Going forward, the earning season is coming, but with markets trading at about 18X forward earnings, and historical averages around 15X, it is arguably on the high-end. If we do get some tax reforms, that will boost EPS and moderate the multiple. In terms of earnings, she wants to see what the companies are saying and what they are seeing out there. They may be holding back on capital spending until they see some of these reforms being put in place.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
_N/A
2017-04-12 COMMENT Must be logged in to use chart ALA-T Altagas Ltd

Made an acquisition in the US that is going to strengthen their growth outlook. Feels the dividend is safe. There are a number of players in that space, kind of midstream operations/pipeline. She owns Inter Pipeline (IPL-T) and Pembina (PPL-T) which she knows better, and which also have good cash flow growth. Dividend yield of 6.8%, which is sustainable.


Price:
$31.060
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 COMMENT Must be logged in to use chart BAM.A-T Brookfield Asset Management (A)

Brookfield Asset (BAM.A-T) or Brookfield Infrastructure (BIP.UN-T)?  Between the 2, her preference would be this one. It is much more diversified, plus it has interest in Brookfield Infrastructure. It gives access to their fund management side, the private equity funds. That is also where senior management executives own their shares. Dividend yield of 2.2%.


Price:
$48.850
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2017-04-12 COMMENT Must be logged in to use chart BB-T BlackBerry

It was just announced they are getting $815 million in royalty payments from QUALCOMM (QCOM-Q). That works out to be about $1.50 per share in cash. The balance sheet now is pretty strong. She is not a buyer as they are still making that transition from hardware to software. It is not clear where future growth revenues will come from. Not a lot of visibility on how they are going to grow their top line.


Price:
$11.850
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 COMMENT Must be logged in to use chart BIP.UN-T Brookfield Infrastucture Partners

Brookfield Asset (BAM.A-T) or Brookfield Infrastructure (BIP.UN-T)?  Between the 2, her preference would be Brookfield Asset Management. It is much more diversified, plus it has interest in Brookfield Infrastructure. It gives you access to their fund management side, the private equity funds. It is also where senior management executives own their shares. Dividend yield of 4.5%.


Price:
$51.700
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2017-04-12 COMMENT Must be logged in to use chart C-N CitiGroup

A play on an improving US economy. This is in much better shape than it was a few years ago. They are still far inferior than Wells Fargo, a single digit which is an important metric. However, they’ve been given permission to increase their dividends.


Price:
$58.510
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 COMMENT Must be logged in to use chart CCO-T Cameco Corporation

You could argue that uranium prices have really topped out. Uranium has really come back a lot since the Japanese crisis a few years ago. The nuclear reactor is coming back on stream, but is very slow. A few months ago, a major Japanese utility company cancelled their contract. A lot of their business is long-term contracts. They are also having issues with CRA on tax returns from a few years ago, which is a big overhang on the stock. If you have a very long-term outlook, uranium prices should improve, but she doesn’t see any catalyst for it to get back to $17 in the near term.


Price:
$15.050
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 HOLD Must be logged in to use chart CM-T Canadian Imperial Bank of Commerce

She likes the Canadian banks. They’ve had a great run in 2016, but we are not likely to see the gains we saw last year. She is expecting more moderate earnings per share growth and share price appreciation, because valuation levels now are kind of trading at a bit below the Price to BV, but on a forward PE basis they are trading at a premium to historical averages, but still reasonable. This is more domestically oriented than the others. Hasn’t been that successful expanding outside of Canada in the past. Prefers the banks that have more exposure in the US and outside of Canada. (See Top Picks.)


Price:
$113.390
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 COMMENT Must be logged in to use chart CVE-T Cenovus Energy

Recently acquired some Conoco Phillips assets. Feels the stock fell because they are paying a pretty full price, and have levered up their balance sheet. It went from a pretty under-levered company to a much higher leverage ratio than their peers. If you are very long-term focused, this is probably an attractive entry point. You do have to believe that crude oil will stabilize and slowly move upwards. There is not a lot of visibility on crude oil near term because there are so many uncertainties right now. Hopefully we have seen the lows.


Price:
$14.450
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Unknown
2017-04-12 PAST TOP PICK Must be logged in to use chart CVS-N CVS Health Corp

(A Top Pick March 10/16. Down 20%.) This is the leading drugstore in the US on the retail side. Last fall, their scripts got excluded from the PBM networks, so they are losing some prescription volumes, which is a short-term negative. Earnings are going to be somewhat flat this year, but they feel they can continue growing earnings at a 10% rate past 2017. She likes the space. Their competitor, Walgreens (WBA-Q), is in the process of acquiring Rite Aid (RAD-N), so expects CVS will pick up some stores at that time. Trading at about 2 multiples discount to Walgreens because of their near term earnings stumble. Thinks the disappointment is already priced into the stock.


Price:
$77.960
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-04-12 COMMENT Must be logged in to use chart ENF-T Enbridge Income Fund Holdings

She owns Enbridge (ENB-T) which has better growth prospects. This one owns the Canadian mainline pipeline. Its dividend is sustainable. Enbridge (ENB-T) acquired Spectra last year which really increases their presence in the US, as well as diversifying them out of just crude oil and into natural gas. If you are more interested in pure yield, than ENF is maybe what you would rather have, but Enbridge, with a yield of 4%, will be increasing for a number of years, and has better cash flow growth. Dividend yield of 6.1%.


Price:
$33.760
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 DON'T BUY Must be logged in to use chart ENGH-T Enghouse Systems

Doesn’t follow this closely. The price has come down quite a bit. A software company that have been growing primarily through acquisitions. Thinks Amazon (AMZN-Q) has indicated they are going to enter into the same software market, and some analysts have indicated the space is going to get more competitive. A high multiple stock to begin with, and is not considered inexpensive.


Price:
$57.470
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 COMMENT Must be logged in to use chart FLR-N Fluor Corp.

Owned this in the past. A global engineering/construction company that is very diversified geographically. Very well-run. She got out because of their end markets in terms of energy and mining, which were in a downturn. When things are stabilizing and improving, this could be a name that she could enter.


Price:
$51.130
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 TOP PICK Must be logged in to use chart FTS-T Fortis Inc.

Closed on ITC Corp last year, a US electric utility. That increases their exposure in the US. She likes this utility, because it is noncyclical and non-commodity-based. Pretty defensive. 90% of cash flow comes from regulated assets. They’ve increased the dividend for 43 consecutive years, and she doesn’t see that changing. She can see it growing 6% annually through 2021. That is important for income stocks in a potential rising rate environment. Has a price target of about 10% upside plus the dividend, giving a total return of about 13%. Dividend yield of 3.6%. (Analysts’ price target is $48.)


Price:
$44.650
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-04-12 TOP PICK Must be logged in to use chart GOOGL-Q Alphabet Inc. (A)

As the largest search engine, it garners a lot of the digital online advertising. She can see very good secular growth in digital advertising. Corporate advertising budgets have about 35% allocated to digital, and sees that increasing over time. They will garner a big share of that because it is the leading search engine. This is not a value stock, but more of a GARP stock, trading at about a 25 forward PE. Has consistently grown its revenue in excess of 25% organically, and a lot of that is falling to the bottom line. Earnings are also growing at a 25% clip. (Analysts’ price target is $1000.)


Price:
$841.460
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-04-12 COMMENT Must be logged in to use chart ITP-T Intertape Polymer Group

Doesn’t follow this closely, because it is a smaller cap name. A packaging company. Generally speaking, it is a pretty well-run company. There is a cyclicality to it. Thinks they are ramping up a new plant. You could probably hold this long-term to get industrial exposure. Well-managed.


Price:
$23.220
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 COMMENT Must be logged in to use chart MA-N Mastercard Inc.

She likes the space, but owns Visa (V-N) instead. Both companies are a play on the secular change to digital payments. Visa is the larger of the 2. You want scale to be cost competitive. Also, Visa just bought Visa Europe last year, and there should be a lot of operating leverage as they grow the European business. Both companies are well-managed.


Price:
$111.470
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 COMMENT Must be logged in to use chart MFC-T Manulife Financial

She likes this. All insurance companies will benefit from a rising interest rate environment. In the last few weeks, most insurers and financials have been in a trading zone because there is a question of how fast rates are going to increase, both in the US and Canada. This has good exposure in the US, so will benefit from rising rates. She also likes their positioning in Asia. About 25% of revenues comes from Asia, and it is a faster growth market. Trading at a discount to Sun Life (SLF-T), but going forward that gap is closing because their ROE is growing at a faster pace. They’ve been increasing dividends, and she sees that continuing. Could see this in the high $20 area.


Price:
$22.860
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-04-12 PAST TOP PICK Must be logged in to use chart RY-T Royal Bank

(A Top Pick March 10/16. Up 37%.) The banks as a group have done very well. At that time, there was a question about the Canadian economy going into a recession and concerns about housing. The valuation had contracted substantially below their historical averages, as well as having concerns about the energy patch. Her target one year out is about 7%-8% from here, not a bad share price appreciation with a yield of 3.5%. Still a buy. (See Top Picks.)


Price:
$96.060
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-04-12 COMMENT Must be logged in to use chart T-T Telus Corp

Trading in record territory. An income stock in a more defensive industry. Generates a lot of free cash flow and provides very attractive yields. A play on the recovery of Western Canada. It is going to face more competition with Shaw (SJR.B-T) ramping up their wireless presence in Western Canada. Dividend yield of 4.3%.


Price:
$44.640
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 TOP PICK Must be logged in to use chart TD-T Toronto Dominion

Ranks about #7 in terms of domestic deposits in the US. She likes this, because it has lagged the group year to date, and because of its very negative press about overselling, which she doesn’t think is ingrained in their corporate culture. Trading at a premium to historical average by about 1 multiple point higher. Trades at about 1.8 X PB, and its 10-year historical average is about 2X. generates an ROE of about 14%. Dividend yield of 3.6%. (Analysts’ price target is $71.50.)


Price:
$65.570
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-04-12 PARTIAL BUY Must be logged in to use chart TECK.B-T Teck Resources Ltd. (B)

Has a small position in this, and is her only holding in the materials space. It recovered nicely last year on stronger iron ore prices, but that was temporary. It has moderated this year. Thinks it will slowly strengthen, but will be predicated upon Chinese demand. The Chinese economy is stabilizing and growing. This company is also exposed to copper and zinc. Zinc has been in an oversupply for a number of years, and has gone through the typical cycle, and the supply/demand dynamics are going to improve. There are going to be some weak days in the market, and would recommend that you scale into this.


Price:
$29.640
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-04-12 DON'T BUY Must be logged in to use chart VRX-T Valeant Pharmaceuticals

Has new management which are trying to sell off some assets and get the prices they want. Trying to change the way they operate in terms of not buying companies that actually do internal R&D, but that is difficult because they don’t have a lot of cash, but have a lot of debt. There is not a lot of visibility, which is why the stock is trading where it is. Drug pricing is now being highly scrutinized, and she doesn’t see that going away.


Price:
$12.760
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
No
2017-04-12 PAST TOP PICK Must be logged in to use chart WFC-N Wells Fargo

(A Top Pick March 10/16. Up 13%.) This pulled back quite a bit when the scandal 1st came out. Prior to that event, it was always regarded is a very well-run bank, and got a premium valuation in the group. Pays a very nice dividend yield versus some of its peers. Higher interest rates will be beneficial to all banks. Still trading at a reasonable multiple of about 13X forward earnings with a yield of just under 3%.


Price:
$53.120
Subject:
NORTH AMERICAN - LARGE
Bias:
UNKNOWN
Owned:
Yes
2017-02-17 N/A Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

Markets.  We have priced a lot of things in.  The S&P is up almost 10% since the election, with the TSX up 9%.  The market is anticipating the pro-growth policies being implemented and ignoring the anti-trade comments.  If there are delays in implementation we could easily get a pullback.  The US economy has been improving all along even before Trump.  Unemployment has been at 5% or lower for 16 months.  She likes what she sees for the earnings season.  Tax cuts will help to bring price to earnings ratios down.  We need to see policies implemented now. 


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
_N/A
2017-02-17 BUY on WEAKNESS Must be logged in to use chart A Commentary A Comment -- General Comments From an Expert

US Banks.  They have all done quite well post- the election due to the potential of less regulation.  She owns WFC-N.  There is nothing wrong with the others, but WFC-N has lagged and was better managed during the financial crisis.  JPM-N is the second best one.  Wait for a pullback before buying or adding to a position.


Price:
$0.020
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Yes
2017-02-17 HOLD Must be logged in to use chart AAPL-Q Apple

(Market Call Minute) It has done well, but don’t chase it.


Price:
$135.720
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2017-02-17 HOLD Must be logged in to use chart AGU-T Agrium

She has held it for a number of years.  It was always her preferred play in that area.  Nutrients should have a good long term demand.  But this industry can get quite cyclical because using them can be put off for a number of years.  They have a retail operation which cushions them more than POT-T.  POT-T is buying them at the trough of the commodity price.  (Analysts’ Target: $141.06).


Price:
$135.640
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
2017-02-17 DON'T BUY Must be logged in to use chart AIG-N American International Group

They will benefit from higher interest rates.  They ran into difficulty during the financial crisis and had to restructure.  They are trying to grow their return on equity.  She keeps her insurance exposure in Canada.


Price:
$62.500
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
No
2017-02-17 BUY Must be logged in to use chart BAC-N Bank of America

(Market Call Minute) You could buy it for exposure to the US economy.


Price:
$24.520
Subject:
NORTH AMERICAN - LARGE
Bias:
BULLISH
Owned:
Unknown
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