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

Recent Opinions

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Date Signal Company Expert Opinion Price
2017-08-30 N/A A Comment -- General Comments From an Expert
A Commentary
Brian Madden

Gold.  It has broken out past $1300. In the last couple of days there has been the sabre rattling with North Korea. It may have made a bottom in early 2016. He is not convinced that a new secular bull market is underway. However, our gold does have a role in a diversified and well-balanced portfolio, as a sort of alternative to cash. Thinks the decisive level for gold is $1375.


Price: $0.020
Subject: CANADIAN
Bias: UNKNOWN
Owned: _N/A
2017-08-30 N/A A Comment -- General Comments From an Expert
A Commentary
Mike S. Newton, CIM FCSI

Market. This has been lumbering along in the last year and has been somewhat difficult. The US has been a great place to be. Feels investors’ frame of reference is too short. We have been in a bull market, but not as long as people are thinking. There is a whole generation that is not investing because of the great financial crisis we just experienced. Feels it is an interesting time to be invested. Much of what is going on is based on economic finance reform and the new US tax code that we hope comes in.


Price: $0.020
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: _N/A
2017-08-30 WAIT Apple
AAPL-Q
Mike S. Newton, CIM FCSI

September 12 will be the big announcement. As a user, he had been a little soured, but everything is fine now. He is finding the TV experience good, and is looking forward to the new phone. Wait until September 12.


Price: $163.350
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 PAST TOP PICK AGT Food & Ingredients
AGT-T
Brian Madden

(A Top Pick Oct 31/16. Down 33.88%.) Sold his holdings in May when they had a couple of back-to-back quarters of disappointing earnings.


Price: $25.210
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2017-08-30 DON'T BUY Altagas Ltd
ALA-T
Brian Madden

Sold his holdings about a year ago because of valuation concerns, when the stock had gotten very expensive. It was trading north of 15-16 times EV to EBITDA. He would continue to avoid this, even with the setback in the stock price.


Price: $27.400
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2017-08-30 BUY Amazon.com
AMZN-Q
Mike S. Newton, CIM FCSI

Amazon (AMZN-Q) or Ali Baba (BABA-N)? He would add to both of these now, for 3 reasons. #1 the pullback. #2 it is a longer-term great story and #3 you have an $.80 Cdn$, which you don’t see very often.


Price: $967.590
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 PAST TOP PICK Alimentation Couche-Tard (B)
ATD.B-T
Brian Madden

(A Top Pick Oct 31/16. Down 10.7%.) Still believes in this. A rapid growth by acquisition. They run a big chain of convenience stores and gas stations in Canada, the US and northern Europe. Just closed on their largest acquisition, CFT Brands, a couple of months ago. Then they launched another take over of the Holiday chain convenience stores. Stock is cheap and undervalued, and he is still buying.


Price: $60.050
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-08-30 BUY Alibaba Group Holding
BABA-N
Mike S. Newton, CIM FCSI

Amazon (AMZN-Q) or Ali Baba (BABA-N)? He would add to both of these now, for 3 reasons. #1 the pullback. #2 it is a longer-term great story and #3 you have an $.80 Cdn$, which you don’t see very often.


Price: $171.250
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 COMMENT BCE Inc.
BCE-T
Mike S. Newton, CIM FCSI

The roll out of FIBE is going to be a huge focus in 2018 for this company. They are taking market share from other players. Good dividend.


Price: $59.720
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 TOP PICK Bank of Nova Scotia
BNS-T
Brian Madden

Canada’s 3rd largest bank. Our most globally ambitious bank. They have a strong and growing footprint in Mexico and Latin America, and increasingly in Asia. They have the most excess capital of any of the Canadian banks. Have been buying back shares, but they have shown good expansionist capabilities. Not expensive at 11X earnings. This, and many of the other Canadian banks has beaten the TSX in 18 of the last 25 years. Dividend yield of 4.1%. (Analysts’ price target is $86.)


Price: $77.720
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-08-30 BUY CCL Industries (B)
CCL.B-T
Mike S. Newton, CIM FCSI

One of his absolute favourite Canadian companies. It is in packaging and labelling. Currently they are being hit a little bit by the Cdn$ strength. This is a low volatility, non-resource, non-energy, non-gold, non-materials name in Canada which is very rare, and this is good timing.


Price: $58.500
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 DON'T BUY Cineplex Inc
CGX-T
Brian Madden

The market darling for quite a long time. It did very well from about 2011 through to earlier this year. In the course of thriving and prospering, the stock got very richly priced. Trading at about 30X earnings. When you have a company trading at that multiple, and not really growing their earnings at a commensurate rate, it is very vulnerable to any short-term swing in sentiment. Hollywood has not come out with a good slate of movies this summer, which has really impacted them. He would be wary of the stock until things started to improve.


Price: $36.930
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2017-08-30 TOP PICK Canadian National R.R.
CNR-T
Mike S. Newton, CIM FCSI

If Canada is going to do well, and we are going to have a back half pick up like everyone thinks, why not own this. The recent pullback represents a buying opportunity. Dividend yield of 1.6%. (Analysts’ price target is $109.70.)


Price: $100.640
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 COMMENT Canadian Tire Corporation Ltd. (A)
CTC.A-T
Brian Madden

Retail sales in Canada are extremely strong, and were up about 7.3% year-over-year as of June. This company is a direct play on that. This is vulnerable to the Amazon (AMZN-Q) impact, but that is down the road.


Price: $148.500
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-08-30 BUY Enbridge
ENB-T
Mike S. Newton, CIM FCSI

Enbridge (ENB-T) or Enbridge Income Fund Holdings (ENF-T)? He added this about 2 years ago. He loves the boldness of the Spectra Energy deal. A really well run company. He prefers this one.


Price: $49.840
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 COMMENT Enbridge Income Fund Holdings
ENF-T
Mike S. Newton, CIM FCSI

Enbridge (ENB-T) or Enbridge Income Fund Holdings (ENF-T)? He added Enbridge about 2 years ago. He loves the boldness of the Spectra Energy deal. It is a really well run company. He prefers it over this one.


Price: $30.810
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: No
2017-08-30 TOP PICK Finning Int
FTT-T
Brian Madden

The world’s largest Caterpillar dealer. Their largest customers are public works. Mining is their 2nd largest. Mining industry capital spend has been in a nuclear winter since 2012, and is just coming out of that. Dividend yield of 2.8% per year and they’ve grown their dividend 8% per year (Analysts’ price target is $32.)


Price: $28.750
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-08-30 BUY CGI Group (A)
GIB.A-T
Brian Madden

Canada’s largest provider of outsourcing IT services and solutions. Trades at a modest multiple on earnings of about 16 or 17 times. New management has ambitious plans to double the size of the company over the next 5-7 years. They’ve been doing small tuck in mergers and acquisitions.


Price: $63.100
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-08-30 HOLD Home Capital Group
HCG-T
Brian Madden

This has been a battleground stock over the last year. There has been a lot of controversy, which culminated with an infusion of capital from Warren Buffett. The trouble was entirely of their own creation. They are going to survive and they have new management. The dividend is not likely to be reinstated anytime soon. He would prefer Canadian banks instead.


Price: $13.360
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-08-30 COMMENT iShares Nasdaq BioTech ETF
IBB-Q
Mike S. Newton, CIM FCSI

He is very positive on the biotech sector. There had been a lot of negative news cycle during the election, so the sector consolidated for some time. He then got back in through this ETF in March. He just sold this, but only because of a portfolio rebalancing. A great way to play Biotech’s.


Price: $324.320
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: No
2017-08-30 COMMENT Inter Pipeline
IPL-T
Brian Madden

He likes this company. A lot of people are incorrectly lumping it in with oil. It is not a producer, but a transporter. They also have the midstream fractionation asset. They have a $3 billion capital spend decision which they expected to make by the 2nd quarter. Management is now saying that should fall into the 3rd quarter. This is to build an ethylene/polyethylene plant in Alberta. The province is awash in natural gas which is a feed stock for petrochemicals. Green lighting this project should put a lift to the stock price.


Price: $22.850
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-08-30 TOP PICK JP Morgan Chase & Co
JPM-N
Mike S. Newton, CIM FCSI

He is a big fan of management and the business. Their latest quarter was excellent, for one main reason; every sector of the business is firing on all cylinders. Also, the board just approved the quarterly dividend being increased by $.56. They are basically going to return about $21 billion to shareholders over the next 12 months. Dividend yield of 2.2%. (Analysts’ price target is $96.)


Price: $91.310
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 COMMENT Manulife Financial
MFC-T
Brian Madden

Has had a nice move off the 2016 $18 level. Some of that is in tandem with the backup of interest rates. Beyond that though there are the company specific growth opportunities which are pretty good. What he likes most is their Asian division, which is growing by leaps and bounds. Also, their wealth management division is pretty strong. The one drawback is their US operations and they’ve been talking about monetizing that by spinning it off, which could be a potential catalyst for them.


Price: $24.600
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-08-30 COMMENT Magna Int'l. (A)
MG-T
Brian Madden

Canada’s largest auto parts Company. It has been doing well over the last year. The albatross is the threat of NAFTA being torn up. His view is that the rhetoric and posturing is perhaps a bluff. Doesn’t think the fears are going to be born out. This company is taking share and outgrowing the industry in every region they operate in. There are also buying back a lot of stock. He still likes it.


Price: $58.810
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-08-30 COMMENT Metro Inc (A)
MRU-T
Mike S. Newton, CIM FCSI

We saw what just happened with the Amazon Whole Foods acquisition, which sent shivers down the spine of the US grocery retailers. There was a little less reaction in Canada, but it does put Canadian grocers on notice. There is the health reform in Québec and the minimum wage situation in Ontario. These are some of the issues that have made the stock go sideways a little. His preferred way to play grocers would be Loblaw’s (L-T), but he doesn’t own any grocers right now.


Price: $41.430
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: No
2017-08-30 PAST TOP PICK Peyto Exploration & Develop.
PEY-T
Brian Madden

(A Top Pick Oct 31/16. Down 38.27%.) Historically this was one of the very best and growthiest producers in the Canadian oil patch. Unfortunately, they are swimming upstream in the natural gas environment we have seen. He sold his holdings.


Price: $20.350
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2017-08-30 SELL Reitmans (Canada) Ltd. (A)
RET.A-T
Brian Madden

A long-established retailer, but is competitively weak. Its brick and mortar footprint is too big. The store count has come down from about 1,000 in 2011 to 670. That has arrested the same store sales decline. However, the overall consolidated sales really haven’t budged in 4 or 5 years. Return on invested capital is near zero, and the EPS is near zero. The dividend was cut in 2013 by 75%, and looks like it is vulnerable to a further cut.


Price: $4.270
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2017-08-30 DON'T BUY Sherritt International Corp.
S-T
Brian Madden

A nickel producer and the stock has been in a long slump. There have been some signs of life in the last few weeks. It is trading in sympathy with all the base metal commodities, most notably nickel. Emerging markets have been growing their economies faster this year than last. The problem he would have is with the quality of the assets and the financial strength of the company.


Price: $1.090
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2017-08-30 BUY Starbucks
SBUX-Q
Mike S. Newton, CIM FCSI

This has been a frustrating year. He is buying and averaging down. There are 2 parts to the story. There is the domestic story. They came out with some revenue and growth rates in North America that people were not expecting. Thinks it is going through a soft landing. We are used to the high growth rates which is coming down a little. The real story is the China side, where they have 2600 stores and are adding 500 stores a year. As long as China/US relations stay good, he believes this company will continue to see great rewards out of that region. The drop in the stock price is a good buying opportunity.


Price: $54.520
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 TOP PICK Shopify Inc.
SHOP-T
Brian Madden

Canada’s largest e-commerce enabler. Their core clientele are small and medium-sized businesses. They believe there is an adjustable market of 47 million of those. Growing revenues at a torrid pace of up to 75% year-over-year. The company is not profitable yet, but expects to breakeven by the 4th quarter of this year. An expensive stock, but it is a platform company, i.e., it is entrenching itself in its customers’ business models. They help customers e-commerce businesses with things like inventory management, promotion management, shipping, payments, etc. (Analysts’ price target is $151.)


Price: $136.820
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-08-30 TOP PICK Shopify Inc.
SHOP-T
Mike S. Newton, CIM FCSI

Was really surprised at the growth metrics underneath this. They are in 500,000 merchant companies in 175 countries with a 60% growth rate in North America, and even higher growth rates elsewhere. (Analysts’ price target is $151.)


Price: $136.820
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 COMMENT Suncor Energy Inc
SU-T
Mike S. Newton, CIM FCSI

A tough name to own because of volatility. Oil cannot get a break. He is setting up for an oil rally. Prefers renting the space through an ETF. The Suncor story is all about Fort Hills which is 90% complete. They expect to be testing on it and get it up and running in 2018.


Price: $39.350
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: No
2017-08-30 HOLD Telus Corp
T-T
Mike S. Newton, CIM FCSI

There are a lot of moving parts here. Growth in Internet was a bit lower in the last quarter, which is causing a little bit of grief. The earnings results were not well received. He is not as warm on this as he used to be, but would be happy to stick with it.


Price: $45.130
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 COMMENT Toronto Dominion
TD-T
Mike S. Newton, CIM FCSI

They had an issue in March with respect to aggressive sales practices, which has kind of hung over them a little. They’ve always been one of the better banks, but seem to be lagging a little. He didn’t own this bank because the exposure to the US was a concern, but it is no longer a concern.


Price: $64.900
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: No
2017-08-30 PAST TOP PICK TransDigm Group
TDG-N
Mike S. Newton, CIM FCSI

(A Top Pick July 19/16. Up 20.36%.) One of the best aerospace aftermarket companies. They had a big dip in February and April which caused a lot of concern because of a negative report, but this company keeps plugging away and persistently grabbing market share. A high cash flow machine and a high barrier to entry. He would like to get back into this as some point.


Price: $276.510
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: No
2017-08-30 COMMENT Vanguard FTSE Emerg. Mkts. All Cap ETF
VEE-T
Mike S. Newton, CIM FCSI

The problem with this is that you are going to have a very static country allocation. However, it is Cdn$ hedged which is a good thing. He also owns the Goldman Sachs Active Beta Emerging Market ETF (GEM-N) which has a very, very low management fee. He likes this one because it is actively managed.


Price: $33.500
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 COMMENT Vanguard Information Technology ETF
VGT-N
Mike S. Newton, CIM FCSI

This has all the big names. What’s not to like? It is the best sector in the S&P 500 combined with a 10-basis point management fee. Technology is delivering incredible earnings growth, so you are going to have a high P/E ratio. However, in a larger context, this P/E ratio is not crazy for what you are getting. He likes it.


Price: $150.110
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Unknown
2017-08-30 PAST TOP PICK Vantiv
VNTV-N
Mike S. Newton, CIM FCSI

(A Top Pick July 19/16. Up 20.47%.) An amazing little company that sits in the middle of the e-commerce payment processing system. They do White Label credit cards and have huge scale. They have one turnkey solution for any who wants a White Label credit card. Companies like to work with them. This is still a buy.


Price: $70.790
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: No
2017-08-30 PAST TOP PICK Dentsply Sirona
XRAY-Q
Mike S. Newton, CIM FCSI

(A Top Pick July 19/16. Down 10.85%.) A dental manufacturer and dental consumables manufacturer. Got hit on August 9 with a weakened guidance. The issue they have is that they have to charge different prices in different economies, based on the middle class and what they can afford. He still likes the name.


Price: $55.670
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Yes
2017-08-30 HOLD BMO Equal Weight US Banks ETF
ZBK-T
Mike S. Newton, CIM FCSI

There were 2 boosts to the sector. First was the Trump boost and the 2nd was when they did the capital tests, which most of the banks passed with flying colours. It has been moving sideways now because everybody is not so sure if rates are going to be rising as much as had been hoped.


Price: $22.840
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Unknown
2017-08-30 BUY BMO Covered Call Cdn Banks ETF
ZWB-T
Mike S. Newton, CIM FCSI

This has gone from around $21 to $19 and the yield is about 5.1%. A good entry point.


Price: $18.080
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Unknown
2017-08-30 COMMENT BMO US High Dividend Covered Call ETF
ZWH-T
Mike S. Newton, CIM FCSI

Be careful of this because there are 2 names, ZWH and ZWH.U. The latter is in US$. There is no problem with this ETF. Dividend yield of about 5.3%. He likes this.


Price: $19.500
Subject: NORTH AMERICAN - LARGE & ETFs
Bias: BULLISH
Owned: Unknown
2017-08-29 N/A A Comment -- General Comments From an Expert
A Commentary
Colin Stewart

Market. He is a little cautious. August/September are traditionally not the best times for equity markets. Valuations are relatively high. Complacently levels in investors is quite high. At some point something is going to rattle the markets and there will be a correction. Looking at the S&P 500 with multiples of 18-19 times earnings, a lot of that is being justified by low rates. Rates are going to go up over time. The political gridlock in Washington is also a potential concern. Some of the market staying where it is, really depends upon tax reform, etc. getting pushed through.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: _N/A
2017-08-29 N/A A Comment -- General Comments From an Expert
A Commentary
Barry Schwartz

Market. It has been tough to make money the past few months. The Canadian market absolutely stinks. It touched 16,000 a year ago and has been dragging its feet at 15,000 this year. The US market is pretty good with NASDAQ up double digits, S&P 500 close to double digits, but in Cdn$, it is not so great. Those looking to diversify outside, are getting hurt by the Cdn$. The fear of rising rates has kind of clobbered bond prices recently. It is hard to find places to make money, but it is the market and these things happen, and you have to be patient. We’ve had double digit earnings growth for the 1st and 2nd quarter and we have seen revenue growth. He is quite bullish on the economies, but the stock market hasn’t done as well. He is bullish on stocks, and is finding lots of good value. The auto companies and airlines are very cheap. You still have to own technology because of the growth. Over the next 5 years, we are going to see some pretty good results for equity investors.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: _N/A
2017-08-29 HOLD Apple
AAPL-Q
Colin Stewart

A very well-run company. A very strong branded franchise, but not as cheap as it used to be. The question is, are they going to be able to continue to innovate and have people continuing to refresh their iPhones. The risk on a hardware company is that at some point there could be new technology or a new provider with something new and different. Because of this, he always prefers service type businesses. This company is now building up their service business.


Price: $162.910
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: Unknown
2017-08-29 DON'T BUY Amazon.com
AMZN-Q
Barry Schwartz

The problem is how to value this. It’s not cheap on any metric that you can come up with. A company he would love to own. If he saw a serious material pullback, he’d be all over it. At this type of valuation, it is impossible for him to buy the name. He would recommend you look at other technology names that are trading at much more reasonable valuations.


Price: $954.060
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-29 HOLD Aecon Group Inc
ARE-T
Barry Schwartz

Has just announced that it is exploring a potential sale of the company. If you own it, he would wait to see what happens. Construction is a lumpy business.


Price: $16.920
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-29 BUY Bank of America
BAC-N
Barry Schwartz

(Market Call Minute.) Berkshire Hathaway has just extended its option to be one of the biggest shareholders of this bank, and you should too.


Price: $23.580
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Unknown
2017-08-29 COMMENT Bombardier Inc (B)
BBD.B-T
Barry Schwartz

He is not at all interested in buying this name. The debt level is enormous. They are late to the game in getting planes out to customers. The rail division has been a disaster. He doesn’t like management or what they have done.


Price: $2.460
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-29 PAST TOP PICK Bard C R Inc.
BCR-N
Barry Schwartz

(A Top Pick Sept 1/16. Up 44.47%.) Being acquired by Becton Dickinson (BDX-N). (See Top Picks.)


Price: $319.520
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-29 TOP PICK Becton Dickinson
BDX-N
Barry Schwartz

Acquiring Bard C R Inc., and is essentially going to be a one stop shop for hospitals, providing the product, providing analytics, providing administration. They get 58% of revenue from the US, so there is a big opportunity in emerging markets. He sees 5% revenue growth for many years to come. Sees them reducing debt in the next 2-3 years, and maybe making another material acquisition. Dividend yield of 1.4%. (Analysts’ price target is $216.50.)


Price: $198.900
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-29 BUY Bank of Nova Scotia
BNS-T
Barry Schwartz

Toronto Dominion (TD-T) or Bank of Nova Scotia (BNS-T) for an RRSP? He really can’t answer that, but would suggest you buy both, or choose the one you think is right for your portfolio. His clients own this for its international growth.


Price: $77.330
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-29 COMMENT Cara Operations Ltd.
CARA-T
Barry Schwartz

Looked at this a year ago, but couldn’t get excited about the name. He’d rather put his money in a name like Starbucks (SBUX-Q). The valuation is not cheap enough to get him excited.


Price: $22.580
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: No
2017-08-29 BUY Cineplex Inc
CGX-T
Barry Schwartz

They have not had bad results, but this quarter will be bad. The box office net is down about 20% quarter to date. Unless September picks up materially, they are going to have a very lousy quarter. However, Q4 looks amazing and it could be up 20%. Also, 2018 looks really good. If you judge this quarter by quarter, then you are analysing the stock wrong. They are light years ahead of their competition by diversifying into other entertainments. Within 4 years, they are looking to have 25% of their revenues in EBITDA as non-box office. This is a great deal here.


Price: $35.220
Subject: NORTH AMERICAN - LARGE
Bias: BULLISH
Owned: Yes
2017-08-29 HOLD Cargojet Inc
CJT-T
Colin Stewart

Not the most liquid stock in the world which, combined with the summer doldrums and trading volumes drying up in August, might be part of the reason for volatility. It has been a well executed story over the last number of years, and has benefited from increased ordering online.


Price: $49.150
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: No
2017-08-29 TOP PICK Clearwater Seafoods Inc.
CLR-T
Colin Stewart

Excellent business. They benefit from being a harvester and distributor of seafood globally. Has a very strong position, owning quotas to fish freshwater fish in Canada. The stock pulled back because there were some temporary issues last year. It is cheaper than it has been in a while. Thinks they are going to have a great year in 2017/2018. Dividend yield of 1.9%. (Analysts’ price target is $14.75.)


Price: $10.490
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: Yes
2017-08-29 COMMENT Canadian Imperial Bank of Commerce
CM-T
Colin Stewart

One of the more domestically focused Canadian banks without large US/international operations. There has been a lot of concern about the Canadian housing market and concerns over loan losses, etc., which would affect this bank a little more than some of its peers. Also, foreign investors have taken a negative view on Canadian housing. Also, a lot of people feel US banks are good value. He favours US banks over Canadian banks.


Price: $104.540
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: Unknown
2017-08-29 COMMENT Crescent Point Energy Corp
CPG-T
Colin Stewart

Owns a very small position. He is not buying more, which has less to do with fundamentals of the business and more to do with sentiment on energy and on the company. Historically, the street had rewarded them for making acquisitions, but more recently they have not rewarded them. Now the company has to batten down the hatches and focus on operational performance, generating cash flow and paying down debt. This trades at a low multiple and pays a nice dividend. As a long-term play, if you think oil prices are going to be at $45-$50 or higher, it is one he would hold onto.


Price: $8.270
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: Yes
2017-08-29 PAST TOP PICK Capital Senior Living
CSU-N
Colin Stewart

(A Top Pick Aug 17/16. Down 26.2%.) This did not work out, so he exited his position. They operate and own nursing homes which is a pretty good business. There were 2 things that impacted them. They have a fair bit of debt, and as well, there has been an overbuild of seniors’ homes in the last number of years.


Price: $11.840
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: No
2017-08-29 HOLD Walt Disney
DIS-N
Colin Stewart

There’s been a lot of concerns, particularly over the ESPN franchise, a key part of the business and very profitable. With all the issues over cord cutting, ESPN is not able to hold viewers the way people thought they would. Longer-term, if the stock pulls back enough and gets cheap enough, it will probably be a good opportunity. They have great content and great brand. They have the theme park business and the movie production business, and over time ESPN is going to be a very valuable franchise.


Price: $102.570
Subject: NORTH AMERICAN - LARGE
Bias: CAUTIOUS
Owned: No
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