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Compiling comments that experts make about stocks while on public TV.

Recent Opinions

Generated Jan 20, 2017 1:05:24 PM

Date Signal Company Expert Opinion Price
2017-01-19 N/A A Comment -- General Comments From an Expert
A Commentary
Ross Healy

Markets.  We had a lovely lead up until tomorrow (Inauguration), and the market has said that this is really wonderful.  Trump’s tweeting rather changed the rules of the game.  Now we are going to find out if and when some of his programs can be put into place.  Interest rates are going to wend their way upward.  This year will tend to be a value market with high momentum stocks running out of gas.  You have to pay attention this year to the values of what you are buying.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: _N/A
2017-01-19 N/A A Comment -- General Comments From an Expert
A Commentary
John O'Connell, CFA

Market. He tries to make investments in companies that will do well irrespective of political considerations. Feels people have been paying a lot more attention to news events, than they have been to fundamentals. There has been disparity since the election, where people have been taking Trump at face value that he can solve all the problems in the world, and they’ve jumped on the bandwagon of buying cyclicals, industrials and financials. This has left some pretty good companies behind. He focuses on long-term themes such as information, technology, education, healthcare, etc.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: _N/A
2017-01-19 PAST TOP PICK Apple
AAPL-Q
John O'Connell, CFA

(A Top Pick Feb 10/16. Up 29.19%.) Going into the watch release, he sold half his position. Has been reducing his position, as he feels they may be falling a little behind. Feels that the closed Eco system is potentially becoming a bit of a hindrance for future growth. They seem to be falling behind in artificial intelligence softwares. You don’t need to panic, but he wants to see them start executing on new innovations. The one missing link is their AI capability, where they are falling behind.


Price: $119.780
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Yes
2017-01-19 PAST TOP PICK Barrick Gold
ABX-T
Ross Healy

(Top Pick Jan 26/16, Up 66.68%) It has already had a massive set back.  He was glad of that.  Gold has a place in every portfolio.  Trump may push up the US$ which is negative for gold.  Interest rate increases would be negative for gold.  So he has stepped aside from the group.


Price: $22.560
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-01-19 DON'T BUY Aimia
AIM-T
Ross Healy

The book value has been steadily heading down for the last 4 years.  It has always peaked at 4 times book value, where it is now.  It is paying out more than it ought to in a dividend.


Price: $8.690
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 TOP PICK Amazon.com
AMZN-Q
John O'Connell, CFA

The fact that it has made all these vast investments in infrastructure, they have very little debt. They continue to grow like mad. Moving into India and internationally. They may not be making any money because they are reinvesting the money in growth. It is hard to find good management that is fearless. In 2006, they were using an incredible amount of computer power. Decided to overinvest in computers, and rent out computer space, and are now the largest Cloud computer company globally. (Analysts’ price target is $945.03.)


Price: $809.040
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Yes
2017-01-19 TOP PICK Bank of America
BAC-N
Ross Healy

Their earnings came out the other day and were block buster.  This happened with only one interest rate bump.  Clearly there is some nice momentum going.  They ought to be creating excitement amongst investors.  He is hoping Trump will take a look at what the banks are allowed to pay out.  There should be room for dividend growth.  (Analysts’ target: $24.72). 


Price: $22.530
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-01-19 COMMENT Bank of America
BAC-N
John O'Connell, CFA

The investment community has gotten very, very positive on US banks, because of Donald Trump and deregulation. US banks are really complicated and there are so many different things going on inside these banks. They are probably going to ease some restrictions, which is a good thing. However, these restrictions were put on, because the banks did bad things. Rising interest rates will be positive for banks, because they will have higher earnings. Conversely, we already have US consumers struggling on subprime model loans. Mortgage finances are going to slow down. This is a tough call. Feels that a year from now they could be kind of flat from here.


Price: $22.530
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Unknown
2017-01-19 SPECULATIVE BUY BlackBerry
BB-T
Ross Healy

He is thinking this is dead money.  The pillars that are driving this company aren’t.  The remaining assets are the remaining contracts with governments.  He thinks they should have been bought out.  This thing is not working out.  Mr. Chan has been dealt a hand he cannot win at.


Price: $9.440
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: No
2017-01-19 COMMENT BlackBerry
BB-T
John O'Connell, CFA

John Chen is doing a great job trying to transition from hardware/software to a strictly software and selling it. Integrating their security systems into the automotive business, it is almost a commodity software business these days. He tries to stick with the real leaders that have all the real cash flow and capital to be investing in artificial intelligence, machine learning, augmented reality and cloud computing.


Price: $9.440
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: No
2017-01-19 COMMENT Blackstone Group LP
BX-N
John O'Connell, CFA

There are arguments that this is trading at a significant discount to what its breakup value is. Very, very smart guys. He doesn’t like investing in private equity companies. The people that make all the money in private equity companies are the guys that work for the companies. A very tough way to make a living. Dividend yield of 5.6%.


Price: $29.310
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: No
2017-01-19 BUY CitiGroup
C-N
Ross Healy

He likes it.  Finally conditions are coming together to let them break out into higher ground.  They have good upside, and a lot of it. 


Price: $56.660
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 DON'T BUY Cameco Corporation
CCO-T
John O'Connell, CFA

This has a couple of problems. There is a big tax liability outstanding, which is a substantial issue. The pricing of uranium is problematic. This is world-class in terms of its resource, but he just doesn’t think there is any pricing power. Thinks it is dead money.


Price: $15.850
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: No
2017-01-19 HOLD Cerner Corp.
CERN-Q
John O'Connell, CFA

About 18 months ago, they changed from an upfront sales model to more of a subscription model, much like Adobe did a number of years ago. That’s been causing major headaches for ANLESS (?) in trying to gauge how much their sales and backlog is actually growing. The contract can be somewhat lumpy. A situation where the company continues to work through a change in its billing management. Came very close to buying more at $48. Thinks ANLESS has been burnt and are very cautious about making investment decisions right now, because they can’t figure out how long this takes to roll over. The profitability is still there and this is as cheap as it has ever been. Trading at about 20X forward earnings.


Price: $51.640
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Yes
2017-01-19 HOLD Crescent Point Energy Corp
CPG-T
Ross Healy

One of two Canadian oil stocks that he thinks have upside potential.  Definitively hold it if you have it.  He likes this and IMO-N, having upside potential in the oil sector.


Price: $15.910
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 DON'T BUY Cisco
CSCO-Q
John O'Connell, CFA

They’ve done everything right. Continue to buy back their stock and manage their balance sheet effectively and efficiently. Net profit is 20%, EPS is 12%, income growth is 19%, total debt is only 35.4, Price to Book 2.4%, and ROE is close to 18%. However, you don’t need to be in the hardware manufacturing component. It just continues to be commoditized. You want to be more on the software side. He sold his holdings.


Price: $29.980
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: No
2017-01-19 HOLD CSX Corp
CSX-Q
Ross Healy

Hunter Harrison has left CP-T and is rumoured to be heading to CSX-N.  The question is whether he can unleash the metrics he did on CP-T.  If this is true then you should hang on despite the 20% increase in CSX-N today.  Most of the rail stocks are quite expensively valued.  Betting on any boardroom battle is always risky, but he has made two underperforming rails into stars.


Price: $45.510
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 PAST TOP PICK Walt Disney
DIS-N
John O'Connell, CFA

(A Top Pick Feb 10/16. Up 22.53%.) A really great, long term holding. The 2nd largest media company globally, after Google. People are worried about ESPN, but people will pay to see those sports. They are very innovative in terms of distribution.


Price: $107.280
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Yes
2017-01-19 SELL ECN Capital
ECN-T
John O'Connell, CFA

Had owned this before the split and did okay on it. CEO couldn’t consolidate the fleet business more aggressively and there wasn’t a lot of growth, so he split the companies and then proposed the structure. Thinks it was completely full of conflicts of interest. The investment community is supporting this because the CEO is a wonderful guy in promoting things. Sold his holdings, because he won’t invest in companies where he doesn’t have confidence in the management team. This has been a massive destruction of shareholder value.


Price: $3.210
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: No
2017-01-19 SELL Element Fleet Management
EFN-T
John O'Connell, CFA

Had owned this before the split and did okay on it. CEO couldn’t consolidate the fleet business more aggressively and there wasn’t a lot of growth, so he split the companies and then proposed the structure. Thinks it was completely full of conflicts of interest. The investment community is supporting this because the CEO is a wonderful guy in promoting things. Sold his holdings, because he won’t invest in companies where he doesn’t have confidence in the management team. This has been a massive destruction of shareholder value.


Price: $12.130
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: No
2017-01-19 PAST TOP PICK Enbridge Income Fund Holdings
ENF-T
Ross Healy

(Top Pick Jan 26/16, Up 36.76%) You just had to have it.  It has done very well. It is trading at its net worth value so does not offer any more. 


Price: $35.770
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-01-19 PAST TOP PICK Facebook
FB-Q
John O'Connell, CFA

(A Top Pick Feb 10/16. Up 26.28%.) Still loves this. Mobile engagement continues to grow. They are now getting into video which is going to have more video, which will have more value per click. This is a company that has a long, long way to run. Trading at a very reasonable valuation.


Price: $127.550
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Yes
2017-01-19 DON'T BUY Fairfax Financial
FFH-T
Ross Healy

(Market Call Minute) They have clever management but it is reasonably fully valued.  15-20% upside max.  Not one of his favourite financials.


Price: $613.100
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 DON'T BUY Hydro One
H-T
Ross Healy

(Market Call Minute) Earnings have been flat since the initial issue and the stock has been backing away, but it has not dropped to a value where he says it is a buy.


Price: $23.490
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 SPECULATIVE BUY Hudson Bay Co.
HBC-T
Ross Healy

The stock is trading at about a 40% discount to its value.  It has never traded that low.  The problem is that the earnings forecasts have collapsed and are falling into negative ground.  There is nothing to assign a value to when doing an analysis.  The quality has slipped on the balance sheet.  We should not lose site of the fact that they have some really interesting real estate holdings.  He thinks IFRS accounting would apply a much higher value to their holdings.  There could be a lot there from a net worth point of view.


Price: $9.640
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 COMMENT Intact Financial
IFC-T
Ross Healy

Analysts are calling for $6.92.  They have enjoyed a really nice growth rate, but it is running up against powerful resistance at two times book value.  He is optimistic, however.


Price: $93.230
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 TOP PICK Imperial Oil
IMO-T
Ross Healy

This is cheap.  If you want diversification then he likes this one.  They have this huge guardian angel in the form of Exxon Mobil.  It has not had the big bounce that some of the oil companies have had.  He thinks only good things can happen with this one.


Price: $44.290
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-01-19 COMMENT Johnson & Johnson
JNJ-N
John O'Connell, CFA

A very well-run company. It has a huge number of products. It has a decent dividend and a good quality balance sheet. It has really been a growth by acquisition. Regarding the consumer products part of it, as Amazon (AMZN-Q) increasingly attracts shoppers, does this company capture part of that margin that is being taken away from retail and grocery stores? Can they allocate their advertising budget more efficiently and effectively? If these companies do start capturing part of that margin, ensuring that part of their profit with Amazon, then he thinks they are interesting. In the interim, he doesn’t think these are all that interesting.


Price: $114.200
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: No
2017-01-19 TOP PICK Kelt Exploration
KEL-T
John O'Connell, CFA

This has done a fantastic job of growing production. They recently acquired about 700 sections of land in the Montney area. Fantastic management team. A super strong balance sheet. Growing well within its cash flow now. They have one of the largest land bases in Alberta and Northeast British Columbia. (Analysts’ price target is $8.72.)


Price: $6.800
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Yes
2017-01-19 DON'T BUY Southwest Airlines
LUV-N
Ross Healy

He thinks you should be careful about valuing opportunities on whether Warren Buffet is buying them.  He has historically hated airlines, but is giving his managers more room these days.  LUV-N is expensive now in terms of fair market value and he does not see any upside.  It will go on sentiment, rather than value.


Price: $50.070
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 COMMENT National Bank of Canada
NA-T
John O'Connell, CFA

Like all Canadian banks, this is very well-run. It has the highest yield of around 4%, which he likes. Trades at a slight discount to the others which it traditionally does. They have a good capital markets business. Doesn’t have a lot of exposure outside of Canada. Feels all the banks have had pretty good runs. If he were to buy one bank right now, it would probably be this one.


Price: $55.550
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Unknown
2017-01-19 WAIT Oceanagold Corp
OGC-T
Ross Healy

Golds have gone into a corrective phase.  They have been working very hard to reduce costs and with success.  It’s okay, but he thinks it will not work out over the next few months with a rising US dollar and rising rates.


Price: $4.000
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 COMMENT Pfizer Inc
PFE-N
Ross Healy

The US administration are hitting drug pricing.  It has hurt valuations.  PFE-N has been relatively passed up.  It has a 50% upside potential.  It has technical support at $31.  If this does not hold then get the heck out.  GILD-Q is more beat up and looks very cheap.


Price: $31.700
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 DON'T BUY Potash Corp of Saskatchewan
POT-T
Ross Healy

(Market Call Minute) We still need a rise in potash prices.  It remains a little on the expensive side even combined with AGU-T.


Price: $24.070
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 TOP PICK Power Financial Corp
PWF-T
Ross Healy

They own an insurance company and a mutual fund company.  Both have good yields. They should benefit from rising interest rates.  All together it is so cheap that you have to tuck it away and enjoy the dividend while you wait for a nice big gain. (Analysts’ target: $35.00).


Price: $33.490
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-01-19 COMMENT Royal Bank
RY-T
John O'Connell, CFA

A well-run bank. All the banks have had a very good run since the US election, but are all looking a little pricey. However, with a long-term view, the banks will continue to do well. This is the leader in many respects. Thinks the wealth management side will have some margin pressures this year, as their investment advisors have to start disclosing how much they are charging their clients in terms of fees. Investment banking is under pressure. The M&A advisory business is getting very competitive. Americans are starting to come up here more often. The bank has a big business in the US, which is doing very well. On the lending side, he doesn’t think Canadian banks can continue to pile on debt on to Canadian consumers like they have in the last 20 years. Dividend yield of about 3.3%. Thinks this could correct back down to the low $80s in a nasty market.


Price: $93.280
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Yes
2017-01-19 DON'T BUY Stella-Jones Inc.
SJ-T
Ross Healy

They came out with a weak outlook for 2017.  The trend is sloping off a little bit.  He sees that across the board in specialty clothing retailers.  It has had a fair drop, but it does not mean you should go out and buy it.  He sees $38 support and if that is broken then $30.


Price: $38.650
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 COMMENT Spartan Energy Corp
SPE-T
John O'Connell, CFA

This is going through a transition. They made a massive acquisition. It was a good deal and paid a fair price for it. Thinks it is chewing through all that stock that is probably being recycled to some extent. There have been small-cap managers selling, and mid-cap/large-cap managers that have been buying. It is in great financial shape. The correction is because it is trading at a rich valuation, being such a well-run company. It can grow profitably at these prices. A lot of investors are worried about Mr. Trump and whether he will introduce some border tax. Doesn’t think he would do it as the US refineries need our crude. Starting to look very, very reasonable to him, and at these prices it looks like excellent value. (See Top Picks)


Price: $3.360
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Yes
2017-01-19 TOP PICK Stanley Works, The
SWK-N
John O'Connell, CFA

This has done a phenomenal job of integrating and consolidating their hand tool business. Most of their tools are made in the US, which is going to be loved by Donald Trump. About 55% of sales are made in the US. There are 3 major divisions, hand tools, power tools and security systems. A very innovative company. Growing at about 12% per annum. Dividend yield of 1.94%. (Analysts’ price target is $131.)


Price: $119.660
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: Yes
2017-01-19 WEAK BUY A T & T US
T-N
Ross Healy

It just doesn’t get any respect.  It has been unable to break above two times book value for so long that he can’t remember.  It has nice upside potential from the numbers.  What’s not nice to like.  His target of $45 is a stretched max.


Price: $41.000
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 PAST TOP PICK Telus Corp
T-T
Ross Healy

(Top Pick Jan 26/16, Up 21.60%) He still likes it, but it is having a hard time getting anywhere.  He would not buy it here anymore.


Price: $43.610
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Yes
2017-01-19 COMMENT Teck Resources Ltd. (B)
TECK.B-T
John O'Connell, CFA

Stunned that this has done as well as it has. It is well-run. They have a good, low cost structure. He usually stays away from mining companies. You have to remember that it is incredibly volatile. As investor sentiment turns, you have to be prepared to take a loss if you think the winds are changing. He doesn’t like investing in cyclical companies when interest rates are starting to rise. Also, the global economy is not doing that well. The US$ is appreciating substantially to most major currencies, which is not good for global trade. Also, the president elect is threatening trade wars, which is not good for global trade.


Price: $31.320
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: No
2017-01-19 COMMENT Tesla Motors Inc
TSLA-Q
John O'Connell, CFA

Doesn’t think this has a sustainable business model. There are 2 parts to a car, design and battery. The battery is common sense and there is nothing proprietary about it. By building their giga factory, they have brought their costs down as much is they possibly could. However, it has not followed Moore’s Law. You can only make a lithium ion battery so cheap. There are a lot of upfront manufacturing costs that cannot go to zero. Then there is the style aspect, and he doesn’t see how it can compete against Mercedes-Benz, BMW, Ford, Chrysler, General Motors.


Price: $243.760
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: No
2017-01-19 DON'T BUY Under Armour
UA-N
Ross Healy

It is like a number of faddish US stocks.  It is overvalued, but loved.  He would not endorse it.  He thinks Trump could do all kinds of damage.  This is off his buy list.


Price: $25.230
Subject: NORTH AMERICAN - LARGE
Bias: SELECTIVE
Owned: Unknown
2017-01-19 COMMENT Exxon Mobil
XOM-N
John O'Connell, CFA

With a 2-year view? With a 2-year view, you could probably buy this. Yields about 3.5%, so you shouldn’t do much worse than that. Technologically it is probably the most advanced oil/gas company, and is well integrated. This is a trading stock. On big oil/gas companies, you ultimately make your money on the production per share basis, i.e. production/shares. This has been producing about 6 million barrels of oil a day for about 10 years. To offset their decline rate, they have to spend so much money, and it costs a lot of money to get it out of the ground. He would prefer a Canadian mid-cap. (See Top Picks)


Price: $84.730
Subject: NORTH AMERICAN - LARGE
Bias: BEAR
Owned: No
2017-01-18 N/A A Comment -- General Comments From an Expert
A Commentary
Peter Hodson

Market. The market is not grossly overvalued or undervalued. If you like a company and you like the stock, Buy it. He doesn’t try to predict the market or the economy. If you can get a good company, it will still be a good company in a bad economy. You want to be an investor through the cycle. Watch what management does. You don’t want a management trying to massage their stock for the quarter, but you do want a company that can execute well. Basically, that means a company can’t over promise.


Price: $0.020
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: _N/A
2017-01-18 N/A A Comment -- General Comments From an Expert
A Commentary
Greg Newman

Market. He is constructive. Everybody is waiting for a pullback to happen from this really big move. There is now the uncertainty of what Trump will actually do. However, we have improving economic data, a rosier outlook for S&P earnings, and when you combine all the Trump friendly policies for investors, it is going to be a pretty good year. Investors want to be buying the reflation trade, and he likes to do that with dividend stocks that are going to pay him to wait.


Price: $0.020
Subject: CANADIAN DIVIDEND
Bias: BULLISH
Owned: _N/A
2017-01-18 COMMENT Alaris Royalty
AD-T
Peter Hodson

This has been a great little company over the years, with a very good historical record of increasing the dividend. Last year they ran into some portfolio problems, pretty much for the 1st time of anything significant. There are 4 or 5 companies that are under development and are not performing, and not paying royalty payments to them. Last week they made another announcement, and as they continue to make new investments, it dilutes that problem. But they still have the underlying problem of some underperforming investments. He would be a cautious buyer for income. They have to get good credit for 5-6 years of good growth and good performance. Dividend yield of 7% is not being covered by cash flow right now, but doesn’t think it is going to get cut either.


Price: $22.600
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2017-01-18 COMMENT Acadian Timber Corp
ADN-T
Peter Hodson

An east coast company with a lot of resources. Unfortunately, they have the softwood trade dispute with the US which is causing uncertainty. It has a decent dividend and is a good little company. He would use a little caution as he has no idea what is going to happen with the trade dispute.


Price: $17.480
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2017-01-18 PAST TOP PICK Andrew Peller
ADW.A-T
Peter Hodson

(A Top Pick Jan 15/16. Up 66.84%.) Had thought this had good growth potential, and it really delivered. Had a 3 for 1 split which added more liquidity. The yield is pretty tiny, so he wouldn’t hold this for the yield.


Price: $11.100
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: No
2017-01-18 COMMENT Ag Growth International Inc
AFN-T
Greg Newman

Just made a very accretive acquisition, which he thinks is going to give them EPS growth of about 40% annually for the next couple of years. The payout ratio is looking sustainable at 67% for 2017. Debt to EBITDA is a little elevated, but he sees that coming down. However, it is trading pretty high compared to its historical averages. He would play this by writing puts. Dividend yield of 4.93%.


Price: $54.610
Subject: CANADIAN DIVIDEND
Bias: BULLISH
Owned: Yes
2017-01-18 COMMENT Aphria Inc
APH-X
Greg Newman

There is no way to analyse marijuana stocks. They don’t have any earnings yet and they’re completely speculative. However, it is going to become a legalized area in Canada, and you want to go with the big guys.


Price: $4.980
Subject: CANADIAN DIVIDEND
Bias: BULLISH
Owned: Unknown
2017-01-18 COMMENT Algonquin Power & Utilities Corp
AQN-T
Peter Hodson

A renewable power company, and like a lot of Canadian companies, they made an acquisition in the US. There are a few more opportunities in the US. Bigger is generally better in utilities. They just raised their dividend by 10%. This is one of his favourite renewable plays. Their dividend track record in growth has been very impressive. A very, very solid name.


Price: $11.340
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2017-01-18 PAST TOP PICK Algonquin Power & Utilities Corp
AQN-T
Greg Newman

(A Top Pick Jan 21/16. Up 9.72%.) Chose this for solid growth. He believed that yield proxies had more life in them and that interest rates would stay low for some time. He still sees this growing really well, 16% over the next couple of years. He sees dividend growth. The whole group might be a little expensive when there are more exciting alternatives.


Price: $11.340
Subject: CANADIAN DIVIDEND
Bias: BULLISH
Owned: Yes
2017-01-18 TOP PICK Aecon Group Inc
ARE-T
Greg Newman

Stumbled a little, giving you an opportunity. Management believes that municipal and provincial spend are really going to kick in later in 2017. Any weakness in oil and gas is outweighed from an increase in oil and gas distribution and from their nuclear refurbishment. Their mining segment is really poised for recovery. He is modelling 24% EPS growth from 2016 to 2018 with a 57% payout ratio. Trading below its five-year average. Dividend yield of 2.94%. (Analysts’ price target is $18.12.)


Price: $15.650
Subject: CANADIAN DIVIDEND
Bias: BULLISH
Owned: Yes
2017-01-18 COMMENT Arc Resources Ltd
ARX-T
Greg Newman

A good name. It is down 10%, because he thinks it is border tax concern. Also, natural gas prices kind of had the stuffing knocked out of them in the first 2 weeks of January. Their balance sheet is really fine. Valuation is a little bit pricey relative to its peers, but it is not an expensive valuation. The dividend is paying you to wait, and is fairly sustainable. He is looking at a $3.30 natural gas price. Thinks you will be fine.


Price: $20.830
Subject: CANADIAN DIVIDEND
Bias: BULLISH
Owned: Unknown
2017-01-18 COMMENT AcuityAds Inc
AT-X
Peter Hodson

Digital targeted ads. Their forecasts went up 50%. Management owns a ton of this, somewhere in the 60% range. The stock has done very, very well in the short term, so it is one that needs to be watched. They had a financial release today, but he hasn’t had a chance to look at it.


Price: $2.300
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2017-01-18 COMMENT Amaya Gaming Group Inc.
AYA-T
Peter Hodson

Most of their previous problems have been resolved. The former CEO still owns 17%-18% of the company, and that is not going away until he Sells, but he is not involved with the company. The opportunity of online gaming looks good in Europe, and the growth should be there. The valuation has dropped enough that it is kind of attractive on a fundamental basis. However, the US is much slower, and the take-up on online gaming has been much slower than anticipated, and that is a drawback. They have a new president. Maybe something will change in terms of regulatory issues. However, fundamentals are pretty good. A growth company with a lot of debt, but it is priced right. If you just ignore the whole past 18 months, it looks pretty good. Doesn’t think a whole lot is going to happen in the short term. If you own it, he wouldn’t buy any more. If you don’t own it, you could consider it.


Price: $17.770
Subject: CANADIAN SMALL & MIDCAPS
Bias: UNKNOWN
Owned: Unknown
2017-01-18 PAST TOP PICK Brookfield Asset Management (A)
BAM.A-T
Greg Newman

(A Top Pick Jan 21/16. Up 15.95%.) Still models really good growth for them at 16% over the next couple of years. You can own a little bit of this, but it is not going to do the heavy lifting, and there will be sector rotation out of it.


Price: $45.020
Subject: CANADIAN DIVIDEND
Bias: BULLISH
Owned: Yes
2017-01-18 COMMENT Brookfield Infrastucture Partners
BIP.UN-T
Greg Newman

A great company. He models 25% AFFO growth this year and next. They are on 4 different continents and have a record backlog. Trading at 14.9X versus its 3-year average of around 16.3X. You could buy this now, but it is a bit of a yield proxy.


Price: $46.940
Subject: CANADIAN DIVIDEND
Bias: BULLISH
Owned: Unknown
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