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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
2017-03-24 N/A A Comment -- General Comments From an Expert
A Commentary
Greg Newman

How much to keep in Cash?  [Caller had two of four kids in University].  You want to be mathematical about this.  When these liabilities become certain you want to invest in things that cannot fall down.  It depends on your temperament.


Price: $0.020
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: _N/A
2017-03-24 TOP PICK Algonquin Power & Utilities Corp
AQN-T
Greg Newman

He really likes this name.  Be cautious that higher interest rates in the US will filter to Canada and hurt companies like this a little bit.  They are growing so well.  21% earnings per share growth is his model.  They have a good and improving balance sheet and growth from several sources.  You should continue to own it and use weakness to add to it.  He is forecasting 8% dividend growth every year.  They beat Q4 estimates.  (Analysts’ target: $14.25).


Price: $12.770
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Yes
2017-03-24 BUY Bank of America
BAC-N
Greg Newman

They have the housing cycle ahead of them.  They are trading at book. They are levered to lower regulations.  People are still terrified of the financial crisis.  It is one of the best.


Price: $23.120
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 DON'T BUY Bonavista Energy Corp
BNP-T
Greg Newman

They have a dividend that looks safe for now because they are 70% hedged for 2017.  They are into a narrow play, they cut costs and are cheap.  Debt levels aren’t bad.  But to him in this environment it is really still too much debt.


Price: $3.260
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 HOLD CI Financial Corp
CIX-T
Greg Newman

They had 2.4 Billion in outflows due to industry headwinds.  They have a 65% payout ratio so you are going to get that dividend.  He forecasts 10% share growth over the next couple of years.  It is cheap, 12 times, vs. its 7 year average.  You will get a better exit later on.  He has been writing puts to pick it up.  Don’t have it as a big position or to hold for 50 years.  You should exit if it reaches $32 over the next couple of years.


Price: $26.510
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Yes
2017-03-24 PAST TOP PICK Canadian Pacific Rail
CP-T
Greg Newman

(Top Pick Mar 31/16, Up 14%) It was cheap relative to the group and still is.  He models 12% EPS growth.  You can still own this.  He prefers this to CNR-T because it has a better valuation and is more commodities focused.


Price: $194.650
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Yes
2017-03-24 HOLD Crescent Point Energy Corp
CPG-T
Greg Newman

They have done everything right.  The balance sheet is pretty good.  They are really cheap relative to peers.  They still have good production growth.  But the cash flow in 2018 is projected to be lower than in 2015.  It depends on your view of oil prices.  They continue to decrease costs every year, so a year or two out they may be fine.  It will be very attractive if oil prices go higher.


Price: $14.440
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 HOLD Cominar Real Estate Inv Tr
CUF.UN-T
Greg Newman

They did some things right such as really good asset sales and the balance sheet is a bit better.  But debt to fair value is still a little high.  The payout is relatively high, but with the drip all in it is closer to 80%.  A dividend cut probably won’t need to happen.  Fundamentals are continuing to gain some traction.  They are growing at 0.8%.  It is very cheap and you can expect better things.


Price: $14.520
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 BUY Exchange Income
EIF-T
Greg Newman

It has a 61% payout ratio so the dividend looks good.  It is trading below its 5 year average  The balance sheet is not bad, but they missed on Q4 due to weather and equipment issues which they have now mitigated, so you could go in and buy it.


Price: $38.730
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 HOLD Enerplus Corp
ERF-T
Greg Newman

You can get a better exit than right now. It depends on oil prices.  It is well positioned relative to the group.  It is cheaper.  Its balance sheet is really good.  If you wanted to look to an oil name this would be a really good one even if not the best.


Price: $10.010
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 HOLD Hudson Bay Co.
HBC-T
Greg Newman

There is a time when you have to pull the pin before you lose more money.  But every company has a moment where they face plant.  He thinks the real estate value alone is worth a lot more than where it is now.  He has not sold his.  He would hold it and grit.


Price: $9.860
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Yes
2017-03-24 PAST TOP PICK Intact Financial
IFC-T
Greg Newman

(Top Pick Mar 31/16, Up 6%) The big fires in Fort McMurray hurt them.  He sees growth continuing.  It is trading at a discount.  It can grow by acquisition.  It has its best days still ahead of it.  Rising yields in the US will help lifecos for sure.  P&C won’t receive that material an impact on their business.


Price: $94.210
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Yes
2017-03-24 BUY Manulife Financial
MFC-T
Greg Newman

$30 by year end is not impossible.  It has everything going for it in terms of EPS growth.  It is still cheap relative to the group.  Some of Trump’s agenda will get through and this will be simulative of higher interest rates.


Price: $23.400
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 PAST TOP PICK Magna Int'l. (A)
MG-T
Greg Newman

(Top Pick Mar 31/16, Up 5%)  He bought because he thought the economy would improve but now you have border tax pressures.  This is now more than reflected in the share price.  He still sees EPS growth.  It has a good balance sheet.  It can go higher when we get through the border tax concerns.


Price: $57.040
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Yes
2017-03-24 HOLD Potash Corp of Saskatchewan
POT-T
Greg Newman

They cut the dividend in the last year and a half.  If you own a little bit, you hold it.  Fertilizer is going to be tough.  Close your eyes and just hold it.  You will be fine.  Buy it with write puts at $21.


Price: $22.750
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 BUY Russel Metals
RUS-T
Greg Newman

You can be buying now or on a pull back.  There are strong tailwinds from steel prices and infrastructure spending as well as a strong balance sheet.  They acquired small companies.  It is expensive, however.  It is cheap on a price to cash flow relative to its 5 year.  It has a high dividend.  The payout ratio is 102%, but he models it going down next year.  Their energy segment is about 35% of their business and is the wild card.


Price: $26.290
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 BUY Student Transport of America Ltd.
STB-T
Greg Newman

They have a cozy little business.  He sees 7% revenue growth from new contract wins.  They had decent cost cuts and so be models 20% EPS growth.  It is not cheap and it is a small cap so it is good until it is not good.  It looks good now, but don’t make it a huge part of your portfolio.  You have to keep an eye on it.


Price: $7.650
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 BUY Stantec Inc
STN-T
Greg Newman

We are seeing increased infrastructure spending.  STN-T just bought NWH, a water platform.  They have a stable backlog.  They have made satisfactory progress on integrating NWH, which people were concerned about.  Get behind this name here and now.


Price: $34.520
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 WAIT Toronto Dominion
TD-T
Greg Newman

Banks are still great deals relative to the market.  There are sentiment issues which are tough to gauge.  He would not sell right now.  Dividends are great.  The issue was with their retail business.  They did not grow for 5 quarters in a row.  He would wait a little bit.  The sales issue with pressure on employees will be an overhang for some time.  Around $63 it would be a buy.


Price: $65.180
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Unknown
2017-03-24 WEAK BUY Vermilion Energy Inc
VET-T
Greg Newman

An excellent oil play.  But it will move with oil prices.  If oil will be $50 to $60 then they will do okay.  He is only interested in companies that grew oil production despite the drop in prices.  They have a balance sheet that is reasonable compared to peers.  They trade a bit of a premium.  He is underweight oil companies.


Price: $47.730
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: No
2017-03-24 TOP PICK Veresen Inc
VSN-T
Greg Newman

They are looking at boosting their pipeline capacity by 30%.  They are going to alter their capital structure.  He sees 30% EPS growth.  It will be flat growth this year, however.  It is going to pay you about a 7% dividend to wait until 2019.  Decent balance sheet.  (Analysts’ target: $16.00).


Price: $14.010
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Yes
2017-03-24 TOP PICK BMO Equal Weight US Banks Hedged to CAD ETF
ZUB-T
Greg Newman

It expresses his conviction for the US banks and it is currency hedged.  Over the next 3 to 5 years the US $ is probably over done compared to other currencies.  There will be great growth in this sector.


Price: $25.310
Subject: CANADIAN DIVIDEND & DEFENSIVE STRATEGIES
Bias: BULLISH on DIVIDEND STOCKS
Owned: Yes
2017-03-23 N/A A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

Markets.  This Monday the Americans may give the green light to the XL pipeline.  Oil stocks are still discounting this news.  There is a backdrop of international oil companies exiting Canada.  Playing XL can only be done through TRP-T and so on and companies that piggy back off them.  He thinks we will see $60 oil this year.  Any week we will see refineries coming back online that are undergoing maintenance.  The market will still be rebalancing in Q3 of this year.


Price: $0.020
Subject: ENERGY
Bias: BULL on OIL
Owned: _N/A
2017-03-23 BUY A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

Overweight in the Energy Sector?  He has almost no cash in his fund right now.  The risk reward ratio in Energy is incredibly compelling.  Everything is getting ready to move.  It is a case of sector allocation, rather than stock selection.  He has moved a lot into the oil services sector.  Seasonality is in his favour.  It all comes down to US oil inventories.  We are days or weeks away from that number going negative.  Collective light bulbs in people’s minds will start to go off.


Price: $0.020
Subject: ENERGY
Bias: BULL on OIL
Owned: Yes
2017-03-23 N/A A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

Canada/US Country Allocation.  He wants to allocate largely to the US.  He is fed up of having to worry about takeaway capacity, phasing out of oil sands, and border taxes.  He has two Canadian oil producers and five from the US.  They have a higher growth rate.


Price: $0.020
Subject: ENERGY
Bias: BULL on OIL
Owned: _N/A
2017-03-23 BUY A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

Fracking Sand.  It is not beach sand.  It has to be the right size and round.  These names have fallen greatly this month.  These companies are finding customers are now begging them to add capacity.  You can buy a company where the product has doubled in price and yet they have sold off to half their price.  (See his Top Picks today)


Price: $0.020
Subject: ENERGY
Bias: BULL on OIL
Owned: Yes
2017-03-23 DON'T BUY A Comment -- General Comments From an Expert
A Commentary
Eric Nuttall

Natural Gas is always a call on the weather.  February was the warmest February on record.  He thinks Gas will average $3, or no change.  Now is a crummy time to own Nat Gas stocks.  Until June there is not really a catalyst to get these stocks going.


Price: $0.020
Subject: ENERGY
Bias: BULL on OIL
Owned: Unknown
2017-03-23 N/A A Comment -- General Comments From an Expert
A Commentary
Norman Levine

Markets.  The budget does not make him change how he wants to allocate capital.  This is the second budget in a row they talked about this badly needed commitment to infrastructure, but nothing has happened yet.  The government should be careful in the future.  There was speculation the government would increase the inclusion rate on capital gains, which they did not.  Advisors had been suggesting people crystallize capital gains, but which was unnecessary.  Don’t make investment decisions be based on tax and legal speculation.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: _N/A
2017-03-23 COMMENT A Comment -- General Comments From an Expert
A Commentary
Norman Levine

Where to park US cash temporarily.  You don’t get paid much for owning US cash.


Price: $0.020
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-03-23 BUY Arc Resources Ltd
ARX-T
Eric Nuttall

You can’t fault them as a company.  His problem is that you pay a premium.  If you are very bullish, this is not the one to own, but you can sleep at night with this one.


Price: $18.600
Subject: ENERGY
Bias: BULL on OIL
Owned: Unknown
2017-03-23 BUY Athabaska Oil Sands Corp
ATH-T
Eric Nuttall

One of the best beta picks you can select in Canada today.  They have a high quality asset.  They have an increase in free cash flow, which they can now deploy.  They have extraordinary leverage to an increase in oil price.  It is probably not the best investment unless you believe in oil higher than $50.  It could double if you are bullish on oil.


Price: $1.410
Subject: ENERGY
Bias: BULL on OIL
Owned: Unknown
2017-03-23 WATCH Bank of America
BAC-N
Norman Levine

Financials have run in the US because of expectations under Trump of less regulation that will free up capital.  Also, there is hope and expectation that the yield curve will steepen.  In the near term it looks like we are getting a correction in interest rates.  We are close to the end of the 35 year bull market in bonds.


Price: $23.070
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-03-23 TOP PICK Badger Daylighting
BAD-T
Norman Levine

It is not an everyday stock. They use high pressure water to move earth.  They used to be mostly in the energy area and then moved into the utility area.  Recently they moved into the US.  People still treat them as a Canadian energy company, but 2/3rds of their business is from the US and 3/4ths comes from non-energy.  Earnings continue to grow and they raised the divided recently.  (Analysts’ target: $35.00)


Price: $32.230
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-03-23 DON'T BUY Birchcliff Energy Ltd.
BIR-T
Eric Nuttall

He does not like any of the peers enough to own them.  It is going to be another year of pipeline outages in Canada.  But if you wanted to own one, this would be it.  He recently exited it to put money into service stocks.  He has a lot of respect for the management team.  It is going to be a bumpy ride to get to is target price.


Price: $7.200
Subject: ENERGY
Bias: BULL on OIL
Owned: No
2017-03-23 DON'T BUY Baytex Energy Corp
BTE-T
Eric Nuttall

They are marred with too much debt and can’t grow.   They look too unattractive compared to peers, with the worst production forecast and one of the worst balance sheets.


Price: $4.340
Subject: ENERGY
Bias: BULL on OIL
Owned: Unknown
2017-03-23 BUY CCL Industries (B)
CCL.B-T
Norman Levine

It does nothing fancy.  It is the world’s largest manufacturer of pressure sensitive labels as well as aerosol cans.  They are good at what they do.  They did some very strategic and opportunistic acquisitions over the years.  They raise their dividend over the years and he continues to buy it for clients.


Price: $289.990
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-03-23 PAST TOP PICK Cardinal Energy Ltd
CJ-T
Eric Nuttall

(Top Pick Apr 7/16, Down 14.4%) It was pummeled this year.  He can’t bring himself to sell it.  They are at a 4.3 times.  They have a reserve life of 7.4 years.  That means you are getting half the reserves for free.


Price: $6.830
Subject: ENERGY
Bias: BULL on OIL
Owned: Yes
2017-03-23 DON'T BUY Canacol Energy Ltd.
CNE-T
Eric Nuttall

He does not want international oil and gas.  There are way better opportunities in US and Canada.  Elsewhere there is the risk of pipeline bombings.


Price: $3.780
Subject: ENERGY
Bias: BULL on OIL
Owned: Unknown
2017-03-23 BUY Canadian Natural Rsrcs
CNQ-T
Norman Levine

It has become an interesting stock because they are making a very well timed purchase of shells oil sands assets to become the biggest oil company in Canada.  It probably makes it attractive.  But in the near term he sees oil going down so there is no reason to put new money into oil stocks.


Price: $42.620
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-03-23 PAST TOP PICK Canadian National R.R.
CNR-T
Norman Levine

(Top Pick Mar 22/16, Up 24%) The best run, most profitable railway in North American.  He likes their structure better than CP-T.  CNR-T is less commodity oriented and has a bigger US footprint.  This has been a better grain season.  This one continues to be his favourite.


Price: $96.730
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-03-23 VAGUE Canadian Pacific Rail
CP-T
Norman Levine

CP-T vs. CSX-N.  [Caller already had CNR-T]  One railroad is enough to own.  CSX-Q has already moved since Hunter Harrison moved companies.  Just hold on to CNR-T.


Price: $194.360
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-03-23 PAST TOP PICK Crescent Point Energy Corp
CPG-T
Eric Nuttall

(Top Pick Apr 7/16, Down 17%) He struggles to see what gets this story re-rated.


Price: $14.370
Subject: ENERGY
Bias: BULL on OIL
Owned: No
2017-03-23 DON'T BUY CSX Corp
CSX-Q
Norman Levine

CP-T vs. CSX-N.  [Caller already had CNR-T]  One railroad is enough to own.  CSX-Q has already moved since Hunter Harrison moved companies.  Just hold on to CNR-T.


Price: $46.110
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-03-23 HOLD DH Corporation
DH-T
Norman Levine

Before the takeover offer, the stock was not doing very well.  The company put themselves up for sale and only one bidder came along.  There is still time because the deal has not been finalized. 


Price: $25.170
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Unknown
2017-03-23 PAST TOP PICK Exchange Income
EIF-T
Eric Nuttall

(Top Pick Apr 7/16, Up 43%) It is a good quality pick.  This has been a total under-the-radar story.  They did a phenomenal job of managing their assets.  They have raised the dividend multiple times.


Price: $38.020
Subject: ENERGY
Bias: BULL on OIL
Owned: Yes
2017-03-23 BUY Enbridge
ENB-T
Norman Levine

He likes the growth outlook and they have pledged to increase their dividend every year.  The Canadian economy needs pipelines to be done. 


Price: $54.540
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-03-23 BUY Ford Motor
F-N
Norman Levine

His company owns no autos.  First Quarter earnings will be less than expected because fleet sales are down.  But the stock was only down 10 cents.  North American production has probably peaked.  He thinks it will stay there longer than people think.  F-N has a big presence in Europe where auto sales are starting to do better.  F-N will be a beneficiary long term.  Cars are made better than they used to be and they last longer.


Price: $11.670
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-03-23 TOP PICK Fairmount Santrol Holdings Inc.
FMSA-N
Eric Nuttall

With the freak out by the market about the sell-off in oil.  Fracking sand has doubled.  The increase in demand will offset any increase in capacity.  This one has been hit the hardest of the sand producers.  (Analysts’ target: $12.25).


Price: $6.670
Subject: ENERGY
Bias: BULL on OIL
Owned: Yes
2017-03-23 PAST TOP PICK General Electric
GE-N
Norman Levine

(Top Pick Mar 22/16, Down 2%) It has been a disappointment.  He liked it because it was being transformed.  They got out of financial services just as financial services were taking off.  What hurt them in the last year was their commitment to energy services.  He is still there though.  He owns it as a cyclical industrial company.


Price: $29.620
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-03-23 DON'T BUY Coca-Cola Company
KO-N
Norman Levine

He is not a fan and prefers PEP-N.  KO-N is almost exclusively a soft drink company.  Soft drinks are under attack and in decline as people move more and more towards water.  He does not care for the outlook.  Pepsi gets most of its earnings from food – Lays and Quaker.


Price: $42.170
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2017-03-23 BUY Morneau Shepell Inc
MSI-T
Norman Levine

He continues to own it.  It was founded by the current finance minister’s father.  They are big in the outsourcing business.  They continue to grow in the Canada and in the US.  The dividend is very safe.  They are at the bottom of their payout ratio.  At some point they are going to raise that dividend.


Price: $19.460
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-03-23 DON'T BUY National Bank of Canada
NA-T
Norman Levine

He used to own it.  It is 100% in Canada with no foreign operations.  He prefers more international operations.  At some point it will run into big headwinds. 


Price: $55.660
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: No
2017-03-23 BUY Oasis Petroleum Inc.
OAS-N
Eric Nuttall

He likes them because they are early on in applying advancements in technology to increase recoveries in wells.  They are using more sand, an important theme.  They did a pretty good job of navigating the downturn.  They should soon get a re-rate.  They have improved their balance sheet.  Sentiment is as bad a Jan/Feb of last year when oil was about $29, vs. $48 now.


Price: $12.190
Subject: ENERGY
Bias: BULL on OIL
Owned: Yes
2017-03-23 DON'T BUY Precision Drilling
PD-T
Eric Nuttall

He likes services, but not drillers.  Pricing power is a little more.  It trades at a premium because of good trading liquidity.  He likes pressure pumpers.


Price: $6.110
Subject: ENERGY
Bias: BULL on OIL
Owned: No
2017-03-23 DON'T BUY Pengrowth Energy
PGF-T
Eric Nuttall

It trades at a premium.  They are at 6 times debt to cash flow.  He wants re-rate stories.  There are other stories.  You want a leaner, cleaner story.


Price: $1.450
Subject: ENERGY
Bias: BULL on OIL
Owned: Unknown
2017-03-23 TOP PICK Parkland Fuel Corp
PKI-T
Norman Levine

Big in the gas station business with some wholesale and commercial businesses as well as propane distribution.  They are going to buy CST assets in Eastern Canada.  There is room for a lot more acquisitions.  It has now broken out.  They raise their dividend modestly on a regular basis.  (Analysts’ target: $32.25).


Price: $28.990
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-03-23 DON'T BUY Painted Pony Petroleum
PPY-T
Eric Nuttall

He avoided the face plant they did.  There are concerns about Canadian gas pricing.  It is cheap.  They reduced their cap-x.  The stock fell in half and then they diluted by 59%.


Price: $5.450
Subject: ENERGY
Bias: BULL on OIL
Owned: No
2017-03-23 BUY Sun Life Financial Inc
SLF-T
Norman Levine

He is a big fan of lifecos.  He owns this and POW-T as well as MET-N in the US.  He likes them because he sees interest rates going up.  It has little to do with what the Fed will do.  Their profitability comes from bonds.  They have gotten much bigger in the money management business.


Price: $48.360
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-03-23 TOP PICK SNC-Lavalin Group Inc.
SNC-T
Norman Levine

They had problems in the past but now he likes it going forward.  He bought early, but it has worked out for him.  They continue to get lots of contracts.  Most recently it has sold off and is now the cheapest engineering and construction company in North America. This is because they have an inefficient balance sheet.  The market expects them to make a large acquisition and take on lots of debt and that it will hurt them.  He expects them to buy back stock.  An acquisition would be good for them, making the balance sheet more efficient.  It is cheap here.  They still own highway 407 where the value continues to go up and up.  There is not a lot of goodwill built in here.  (Analysts’ target: $64.00).


Price: $52.440
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
2017-03-23 PAST TOP PICK Suncor Energy Inc
SU-T
Norman Levine

(Top Pick Mar 22/16, Up 16%)  They made that acquisition of COS-T at very low prices.  It helps bring down the overall cost of production.  Energy stocks got way ahead of the price of crude and that is why they have not done as well so far this year as earlier.


Price: $40.860
Subject: NORTH AMERICAN - LARGE
Bias: UNKNOWN
Owned: Yes
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