Stockchase Daily News RSS The Days Comments by Experts http://stockchase.com/ en A Comment -- General Comments From an Expert <p><span style="color: red; font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Market.</strong></span><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> The market is not grossly overvalued or undervalued. If you like a company and you like the stock, Buy it. He doesn&rsquo;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&rsquo;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&rsquo;t over promise.</span></p> http://stockchase.com/opinions/view/167752 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167752 Acadian Timber Corp <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">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.</span></p> http://stockchase.com/opinions/view/167753 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167753 Savaria Corp <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Makes equipment for people with limited mobility. They acquired Shopper&rsquo;s Drug Mart&rsquo;s home division. One of his favourite companies in the healthcare/industrial space. Demographics are in their favour. Has a great balance sheet and good management. Hiked their dividend by 30% last year, a very significant statement by management. This is one of those long-term names that he thinks will continue to make good acquisitions and continue to grow, and continue to post higher earnings.</span></p> http://stockchase.com/opinions/view/167754 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167754 Tio Networks Corp <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This is becoming a bit of a FinTech play. They offer bill payment services for people in the US and people without bank accounts. People who don&rsquo;t have bank accounts is actually a very big part of the world economy. This made a great acquisition last year. Stock continues to hit new highs, pretty much on a daily basis. The market cap is growing, so more people are interested in it now. Some of the easy money has been made, but it still has potential. Definitely has good characteristics.</span></p> http://stockchase.com/opinions/view/167755 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167755 NYX Gaming Group Ltd <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">A very cheap company with good potential. Unfortunately, it got caught in the whole Amaya (AYA-T) - Intertain (IT-T) Short Sell scenario. There is a valuation opportunity here, but it&rsquo;s not risk free as there is some debt. Regulations still have to be decided in North America. He likes it, but only because of the valuation. Their fundamental earnings have been quite decent over the past couple of quarters.</span></p> http://stockchase.com/opinions/view/167756 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167756 Goldmoney Inc <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Trying to create gold as a currency. You deposit gold and they store it for you, and then you use it like a debit card. Has a very good customer growth rate. A lot of people like the concept. They are really trying to change the world a little. Management has a pretty good pedigree. They&rsquo;ve raised some money and the growth is there. Unfortunately, customer acquisition costs are quite high. He isn&rsquo;t really excited about this and wouldn&rsquo;t expect a whole lot of profits for a couple of years. Maybe a better stock down the road.</span></p> http://stockchase.com/opinions/view/167757 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167757 Alaris Royalty <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">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 1<sup>st</sup> 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&rsquo;t think it is going to get cut either.</span></p> http://stockchase.com/opinions/view/167758 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167758 Ten Peaks Coffee Co <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">They use a chemical free process for their decaffeinated coffee, which is winning a lot of customers. Tim Hortons is a client. A classic scenario where a company grows very, very fast, and is a thin a trader and relatively cheap. The stock did very, very well, and then they missed an earnings result. Down at these levels, it is much more attractive than it was. He likes it more now, but it is still kind of risky, but better than it was a year ago.</span></p> http://stockchase.com/opinions/view/167759 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167759 Algonquin Power & Utilities Corp <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">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.</span></p> http://stockchase.com/opinions/view/167760 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167760 Flyht Aerospace Solutions <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Sells to aircraft manufacturers to track planes and utilize information in a more productive way. Had a big run up when the 370 went missing in the Indian Ocean 3 years ago. The stock went way up and then came down because this is a long-term story. It has had a huge run recently. Came out with a couple of positive announcements on contracts and information, and it has kind of sparked a fire. However it is probably too early. This is a long sales process. He wouldn&rsquo;t recommend this as he is more conservative, but it certainly has some good qualities.</span></p> http://stockchase.com/opinions/view/167761 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167761 Andrew Peller <p><span style="color: red; font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>(A Top Pick Jan 15/16. Up 66.84%.)</strong></span><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> 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&rsquo;t hold this for the yield.</span></p> http://stockchase.com/opinions/view/167762 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167762 Constellation Software Inc. <p><span style="color: red; font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>(A Top Pick Jan 15/16. Up 17.36%.)</strong></span><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> This has been one of the greatest stocks in Canada over the last 10 years. They haven&rsquo;t issued any more shares. Earnings have gone up tenfold. They&rsquo;ve done great acquisitions. They have 100 people dedicated to acquisitions full-time in software.</span></p> http://stockchase.com/opinions/view/167763 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167763 Open Text <p><span style="color: red; font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>(A Top Pick Jan 15/16. Up 28.69%.)</strong></span><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> There is a split coming here at the end of this month. One of his favourite software companies. It is very cheap in terms of valuation. Pays a dividend. Makes great acquisitions. They are really hitting it out of the park in terms of facilitating compliance across multi-industries.</span></p> http://stockchase.com/opinions/view/167764 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167764 Crescent Point Energy Corp <p>A &ldquo;go to&rdquo; stock when oil runs, but in terms of quality names, he just doesn&rsquo;t put this in the &ldquo;good quality&rdquo; category. There are some headwinds against it. He would rather own a company that doesn&rsquo;t issue stock all the time. Not a bad company, but just not anywhere close to his favourite. <span style="color: #ff0000;"><strong>(See Top Picks.)</strong></span></p> http://stockchase.com/opinions/view/167765 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167765 Sandvine Corp. <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">A week or so ago, they missed revenue and earnings expectations. If he had $10 for every time they&rsquo;ve done that in the last couple of years, he would have $100. They can&rsquo;t hit a forecast to save their life. Have lots of cash, because they raised money at a higher level, and they still have the cash. Not a bad product and not a bad management team, but he would like management to take themselves private. They are never going to get a growth multiple if they can&rsquo;t ever hit their numbers.</span></p> http://stockchase.com/opinions/view/167766 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167766 Amaya Gaming Group Inc. <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">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&rsquo;t think a whole lot is going to happen in the short term. If you own it, he wouldn&rsquo;t buy any more. If you don&rsquo;t own it, you could consider it.</span></p> http://stockchase.com/opinions/view/167767 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167767 Prometic Life Sciences Inc. <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Doesn&rsquo;t follow this, but it is in his Growth portfolio, because there is a good opportunity in terms of using their plasma technology to develop new, novel drug candidates. They just got orphan status in Europe for one of their products, so they have decided to keep more of their licensing potential in-house, which costs more money than trying to joint venture it out. Got hit by a Short selling attack late last year, with a lot of allegations of how they are going to need money. He thinks the potential is very much there. A solid name, but it doesn&rsquo;t have a whole lot of revenue.</span></p> http://stockchase.com/opinions/view/167768 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167768 Ithaca Energy Inc. <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This has a stellar project in the UK. They&rsquo;ve had lots of delays in getting the platform, and basically there was a lot of expectations for them to have a massive increase in cash flow a long time ago. It does look like it is going to hit this year, even with another delay. They&rsquo;ll probably get production going substantially above previous levels. The stock is very, very cheap. They&rsquo;ll take the cash flow and bring down debt, and the stock should get re-rated. There is plenty of potential if things go right.</span></p> http://stockchase.com/opinions/view/167769 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167769 Lucara Diamond Corp <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">The diamond business is really, really tough. It is hard to find a mine, and costs billions to develop it. For the sector, this is probably the best company you could buy. It has a nice dividend and a nice cash position. They paid a special dividend last year. There is the potential to find giant diamonds, which they already have. They&rsquo;ve changed their production profile so that they can find giant diamonds. It is worth owning for the dividend and the special dividends along the way. Dividend yield of 2.1%.</span></p> http://stockchase.com/opinions/view/167770 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167770 Horizon North Logistics <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">A modular accommodation company in the oil patch. With all the projects, especially in the oil sands, getting cut and the problems in Fort Mac, they&rsquo;ve had a pretty rough couple of years. Had a pretty big debt level and were met with declining demand. They cut their dividend twice, and the stock went way, way down. He thinks the worst is over now. Not a bad company. The debt level is still pretty high, higher than he would like. Not a whole lot of growth potential. Thinks it is going to survive the downturn, but it wouldn&rsquo;t be his favourite.</span></p> http://stockchase.com/opinions/view/167771 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167771 Spin Master Corp <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">He likes this company quite a lot, in terms of its growth profile and management. The whole Hatchimal noise was a bit overblown. The company growth is very good. They know what they are doing. They can target demand and invent new products that are big winners.</span></p> http://stockchase.com/opinions/view/167772 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167772 Fiera Sceptre Inc. <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">A tough, tough business. ETF&rsquo;s are taking away mutual fund business. There are new regulations showing how much clients are paying in fees. This company has gone into the US and started buying US money managers. The stock is quite cheap and pays a nice dividend. National Bank (NA-T) owns half the company. Their growth rate has been a little bit higher than the rest of the business, and he likes the acquisitions that they have done. In a tough, tough industry, he would consider this as the best stock right now in that sector.</span></p> http://stockchase.com/opinions/view/167773 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167773 AcuityAds Inc <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">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&rsquo;t had a chance to look at it.</span></p> http://stockchase.com/opinions/view/167774 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167774 goeasy <p>This helps people finance purchases of furniture and appliances as well as giving short term loans. The short-term loan business is growing really, really quickly, and they get to charge a lot of money to the consumers that have to borrow money. Last year they attempted to make a big acquisition but failed, and they took a $5 million charge to earnings, a very significant hit. However, earnings still grew 41%, and this year will look much, much better, on a stock that is trading at 10X earnings and growing at a very, very rapid rate. Dividend yield of 1.92%. <em>(Analysts&rsquo; price target is $32.33.)</em></p> http://stockchase.com/opinions/view/167775 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167775 Westport Fuel Systems Inc <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Uses natural gas to boost the efficiency of large engines. He has been hearing how great they are for at least 22 years. The company has done a really poor job in bringing out shareholder value. They like to raise money and have raised a lot over the years, but have never been profitable and never made that much in cash flow. He thinks this is one of the worst companies in Canada.</span></p> http://stockchase.com/opinions/view/167776 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167776 High Arctic Energy Services Inc <p>They have Papua New Guinea operations and Canadian operations. All through the energy downturn, this company kept a clean balance sheet, and most years they had an excess cash position. Last year, they took advantage of it and bought 68 new rigs in Canada. Now the cycle starts to turn. Trading at 8X earnings. Dividend yield of 3.65%. <em>(Analysts&rsquo; price target is $6.29.)</em></p> http://stockchase.com/opinions/view/167777 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167777 Shopify Inc. <p>As Amazon (AMZN-Q) is destroying the rest of the retail world, this company is going along for the ride. They facilitate online retailers to use Amazon. They sort of transition a company into Amazon, to help with fulfilment, branding, marketing, searching, etc. Revenues have doubled over the past couple of years and will probably double over the next couple of years. Sitting on $400 million in cash. <em>(Analysts&rsquo; price target is $68.41.)</em></p> http://stockchase.com/opinions/view/167778 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167778 A Comment -- General Comments From an Expert <p><span style="color: red; font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Market. </strong></span><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">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&amp;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.</span></p> http://stockchase.com/opinions/view/167779 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167779 Crescent Point Energy Corp <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This is becoming a much better name. He is now modelling $58 oil for 2017. Based on that, this is very cheap relative to its peers. Trading at about 6.6X versus its peers at about 8.9X. Its balance sheet has become much better. Payout ratio is about 94%, and it is paying you to wait. Feels this has come off because of concerns that the supply response for US shale has perked up, but also there is a concern of the border tax for Canadian oil producers. Not sure he would buy this quite yet.</span></p> http://stockchase.com/opinions/view/167780 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167780 Ag Growth International Inc <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">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%.</span></p> http://stockchase.com/opinions/view/167781 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167781 DH Corporation <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">In December, he upgraded this to a sector outperform again. Private equity was approaching them to possibly pick apart part of the business. A very cheap FinTech play. He can understand why the stock cratered. Their US lending business will pick up, and he doesn&rsquo;t think the Canadian business is declining as fast as we saw last quarter.</span></p> http://stockchase.com/opinions/view/167782 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167782 Enbridge <p><span style="color: red; font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Enbridge (ENB-T) or TransCanada (TRP-T)?</strong></span><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> These are both great stocks. This one is a little more expensive at 24X with TransCanada at about 22X. This company has some issues on Line 3 with regulators in the US, as to whether or not it goes through. Meanwhile the Trans Mountain pipeline is going to Kinder Morgan, which could pressure their main line a little down the road. Both have good growth, but this one has the better growth over the next couple of years. He likes the Keystone element to TransCanada, and thinks Trump is going to put that through.</span></p> http://stockchase.com/opinions/view/167783 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167783 Trans Canada Corp <p><span style="color: red; font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>Enbridge (ENB-T) or TransCanada (TRP-T)? </strong></span><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">These are both great stocks. Enbridge is a little more expensive at 24X with this one at about 22X. This has some issues on Line 3 with regulators in the US, as to whether or not it goes through. Both have good growth, but Enbridge has the better growth over the next couple of years. He likes the Keystone element and thinks Trump is going to put that through.</span></p> http://stockchase.com/opinions/view/167784 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167784 Telus Corp <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">A good name longer-term, but there are competitive pressures with Shaw right now. Thinks their dividend is going to be over 100% of their free cash flow this year due to their heavy CapX. Trading below its five-year average, and lower than the group. Telecoms are pretty expensive here. They have been acting as a bit of a yield proxy. Excellent management team. If he had great capital gains, he would be selling some of this.</span></p> http://stockchase.com/opinions/view/167785 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167785 Algonquin Power & Utilities Corp <p><span style="color: red; font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>(A Top Pick Jan 21/16. Up 9.72%.) </strong></span><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">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.</span></p> http://stockchase.com/opinions/view/167786 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167786 Brookfield Asset Management (A) <p><span style="color: red; font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>(A Top Pick Jan 21/16. Up 15.95%.)</strong></span><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> 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.</span></p> http://stockchase.com/opinions/view/167787 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167787 Killam Properties Inc <p><span style="color: red; font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"><strong>(A Top Pick Jan 21/16. Up 22.33%.)</strong></span><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;"> Had thought the Halifax fundamentals might be turning the corner, which they have. Still trades at a discount to their apartment peers and they are growing faster. Apartment REITs are an asset class you can own in a rising interest rate environment.</span></p> http://stockchase.com/opinions/view/167788 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167788 Brookfield Infrastucture Partners <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">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.</span></p> http://stockchase.com/opinions/view/167789 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167789 Canopy Growth Corp. <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">There is no way to analyse marijuana stocks. They don&rsquo;t have any earnings and they&rsquo;re completely speculative. However, this is going to become a legalized area in Canada, and you want to go with the big guys such as this one. You can own a little of this and just leave it.</span></p> http://stockchase.com/opinions/view/167790 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167790 Aphria Inc <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">There is no way to analyse marijuana stocks. They don&rsquo;t have any earnings yet and they&rsquo;re completely speculative. However, it is going to become a legalized area in Canada, and you want to go with the big guys.</span></p> http://stockchase.com/opinions/view/167791 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167791 Hudson Bay Co. <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This has been really disappointing. The real estate value was $24, then $19, and now $17. His company&rsquo;s target is now $14. These things happen from time to time. If you own 20 stocks, every 10 years one of them is going to face problems like this. When that happens, you have to make 2 decisions. Do you have to get out or is it something you can live with? This company is doing so many things right with their retail, and growing their global operations and with their online. However, they are fighting a huge trend right now, and all department stores are suffering. With these kind of extreme fears, and it&rsquo;s almost always overdone, there will be a brighter day. This has probably overshot to the downside.</span></p> http://stockchase.com/opinions/view/167792 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167792 Arc Resources Ltd <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">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.</span></p> http://stockchase.com/opinions/view/167793 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167793 Student Transport of America Ltd. <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">A higher risk, more liquid name. He sees a 60% payout ratio, so the dividend is safe for now. Trading within its 5-year range, and that is usually pretty good. Debt levels are not low, but are not terrible. He expects some sales growth over the next couple of years. Q1 is usually a weak quarter, but this time it was a beat.</span></p> http://stockchase.com/opinions/view/167794 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167794 General Motors Corporation <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">A name that could not get out of its own way, but is starting to come alive. Feels it still has quite a bit more in the tank. Fundamentals are finally starting to finally align, and people are finally starting to buy them. He likes this. Dividend yield of 4%.</span></p> http://stockchase.com/opinions/view/167795 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167795 Teva Pharmaceutical <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">This was weak and it disappointed the street. A good, blue-chip quality generic name, that you want to buy when it gets really cheap. Looking at the chart, it has gotten really cheap again. Trading at about 7X with an 8% growth rate.</span></p> http://stockchase.com/opinions/view/167796 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167796 Suncor Energy Inc <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">He sees this having 16% production growth from 2016 to 2018, resulting in 22% cash flow per share growth. They easily pay their dividend. The only thing he doesn&rsquo;t like is that it is trading above its peers at 8.8X, versus its peer average of 7.9X. Try to buy at a slightly lower level.</span></p> http://stockchase.com/opinions/view/167797 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167797 Parkland Fuel Corp <p><span style="font-family: 'Times New Roman',serif; font-size: 12pt; mso-fareast-font-family: 'Times New Roman'; mso-ansi-language: EN-CA; mso-fareast-language: EN-CA; mso-bidi-language: AR-SA;">Just made some great acquisitions, so their balance sheet is a little bit bloated. He sees really strong earnings growth because of their acquisitions, 30% over the next couple of years. 90% payout ratio which continues to come down. It is expensive at these levels.</span></p> http://stockchase.com/opinions/view/167798 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167798 Manulife Financial <p>This is really growing well in Asia. He models a 12% EPS. Last quarter was a beat. 9% dividend growth. Still trading below its peers. Trading at 13.1X 2016, which isn&rsquo;t bad relative to the TSX. Very strong balance sheet. They benefit from really good FX tailwinds to the Cdn$. They&rsquo;ve taken some recent actuarial charges against their long-term care unit, which should make their quarters quieter going forward. This is an interest rate play, so as interest rates start to go higher, they should benefit. Dividend yield of 3.04%. <em>(Analysts&rsquo; price target is $25.83.)</em></p> http://stockchase.com/opinions/view/167799 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167799 Aecon Group Inc <p>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%. <em>(Analysts&rsquo; price target is $18.12.)</em></p> http://stockchase.com/opinions/view/167800 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167800 Veresen Inc <p>This has a lot more free cash flow of around 10.7 relative to their peers of 7.1. He sees strengthening in natural gas prices. They have 45% of their product in the US, so they get the big tailwinds of FX. They are building out their midstream operations from 14% to about 24% by 2019. Dividend yield of 7.51%. <em>(Analysts&rsquo; price target is $14.09.)</em></p> http://stockchase.com/opinions/view/167801 Wed, 18 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167801 A Comment -- General Comments From an Expert <p><span style="color: #ff0000;"><strong>Markets.&nbsp;</strong> </span>We had a lovely lead up until tomorrow (Inauguration), and the market has said that this is really wonderful.&nbsp; Trump&rsquo;s tweeting rather changed the rules of the game.&nbsp; Now we are going to find out if and when some of his programs can be put into place.&nbsp; Interest rates are going to wend their way upward.&nbsp; This year will tend to be a value market with high momentum stocks running out of gas.&nbsp; You have to pay attention this year to the values of what you are buying.</p> http://stockchase.com/opinions/view/167802 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167802 Hudson Bay Co. <p>The stock is trading at about a 40% discount to its value.&nbsp; It has never traded that low.&nbsp; The problem is that the earnings forecasts have collapsed and are falling into negative ground.&nbsp; There is nothing to assign a value to when doing an analysis.&nbsp; The quality has slipped on the balance sheet.&nbsp; We should not lose site of the fact that they have some really interesting real estate holdings.&nbsp; He thinks IFRS accounting would apply a much higher value to their holdings.&nbsp; There could be a lot there from a net worth point of view.</p> http://stockchase.com/opinions/view/167803 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167803 Under Armour <p>It is like a number of faddish US stocks.&nbsp; It is overvalued but loved.&nbsp; He would not endorse it.&nbsp; He thinks Trump could do all kinds of damage.&nbsp; This is off his buy list.</p> http://stockchase.com/opinions/view/167804 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167804 BlackBerry <p>He is thinking this is dead money.&nbsp; The pillars that are driving this company aren&rsquo;t.&nbsp; The remaining assets are the remaining contracts with governments.&nbsp; He thinks they should have been bought out.&nbsp; This thing is not working out.&nbsp; Mr. Chan has been dealt a hand he cannot win at.</p> http://stockchase.com/opinions/view/167805 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167805 Pfizer Inc <p>The US administration are hitting drug pricing.&nbsp; It has hurt valuations.&nbsp; PFE-N has been relatively passed up.&nbsp; It has a 50% upside potential.&nbsp; It has technical support at $31.&nbsp; If this does not hold then get the heck out.&nbsp; GILD-Q is more beat up and looks very cheap.</p> http://stockchase.com/opinions/view/167806 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167806 CitiGroup <p>He likes it.&nbsp; Finally conditions are coming together to let them break out into higher ground.&nbsp; They have good upside, and a lot of it.&nbsp;</p> http://stockchase.com/opinions/view/167807 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167807 Telus Corp <p><span style="color: #ff0000;"><strong>(Top Pick Jan 26/16, Up 21.60%)</strong> </span>He still likes it but it is having a hard time getting anywhere.&nbsp; He would not buy it here anymore.</p> http://stockchase.com/opinions/view/167808 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167808 Enbridge Income Fund Holdings <p><span style="color: #ff0000;"><strong>(Top Pick Jan 26/16, Up 36.76%)</strong> </span>You just had to have it.&nbsp; It has done very well. It is trading at its net worth value so does not offer any more.&nbsp;</p> http://stockchase.com/opinions/view/167809 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167809 Barrick Gold <p><span style="color: #ff0000;"><strong>(Top Pick Jan 26/16, Up 66.68%)</strong> </span>It has already had a massive set back.&nbsp; He was glad of that. &nbsp;Gold has a place in every portfolio.&nbsp; Trump may push up the US$ which is negative for gold.&nbsp; Interest rate increases would be negative for gold.&nbsp; So he has stepped aside from the group.</p> http://stockchase.com/opinions/view/167810 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167810 CSX Corp <p>Hunter Harrison has left CP-T and is rumoured to be heading to CSX-N.&nbsp; The question is whether he can unleash the metrics he did on CP-T.&nbsp; If this is true then you should hang on despite the 20% increase in CSX-N today.&nbsp; Most of the rail stocks are quite expensively valued.&nbsp; Betting on any boardroom battle is always risky, but he has made two underperforming rails into stars.</p> http://stockchase.com/opinions/view/167811 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167811 Stella-Jones Inc. <p>They came out with a weak outlook for 2017.&nbsp; The trend is sloping off a little bit.&nbsp; He sees that across the board in specialty clothing retailers.&nbsp; It has had a fair drop but it does not mean you should go out and buy it.&nbsp; He sees $38 support and if that is broken then $30.</p> http://stockchase.com/opinions/view/167812 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167812 Crescent Point Energy Corp <p>One of two Canadian oil stocks that he thinks have upside potential.&nbsp; Definitively hold it if you have it.&nbsp; He likes this and IMO-N, having upside potential in the oil sector.</p> http://stockchase.com/opinions/view/167813 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167813 Oceanagold Corp <p>Golds have gone into a corrective phase.&nbsp; They have been working very hard to reduce costs and with success.&nbsp; It&rsquo;s okay but he thinks it will not work out over the next few months with a rising US dollar and rising rates.</p> http://stockchase.com/opinions/view/167814 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167814 Intact Financial <p>Analysts are calling for $6.92.&nbsp; They have enjoyed a really nice growth rate, but it is running up against powerful resistance at two times book value.&nbsp; He is optimistic, however.</p> http://stockchase.com/opinions/view/167815 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167815 Southwest Airlines <p>He thinks you should be careful about valuing opportunities on whether Warren Buffet is buying them.&nbsp; He has historically hated airlines but is giving his managers more room these days.&nbsp; LUV-N is expensive now in terms of fair market value and he does not see any upside.&nbsp; It will go on sentiment, rather than value.</p> http://stockchase.com/opinions/view/167816 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167816 A T & T US <p>It just doesn&rsquo;t get any respect.&nbsp; It has been unable to break above two times book value for so long that he can&rsquo;t remember.&nbsp; It has nice upside potential from the numbers.&nbsp; What&rsquo;s not nice to like.&nbsp; His target of $45is a stretched max.</p> http://stockchase.com/opinions/view/167817 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167817 Fairfax Financial <p>(Market Call Minute) They have clever management but it is reasonably fully valued.&nbsp; 15-20% upside max.&nbsp; Not one of his favourite financials.</p> http://stockchase.com/opinions/view/167818 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167818 Potash Corp of Saskatchewan <p>(Market Call Minute) We still need a rise in potash prices.&nbsp; It remains a little on the expensive side even combined with AGU-T.</p> http://stockchase.com/opinions/view/167819 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167819 Hydro One <p>(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.</p> http://stockchase.com/opinions/view/167820 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167820 Aimia <p>The book value has been steadily heading down for the last 4 years.&nbsp; It has always peaked at 4 times book value, where it is now.&nbsp; It is paying out more than it ought to in a dividend.</p> http://stockchase.com/opinions/view/167821 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167821 Bank of America <p>Their earnings came out the other day and were block buster.&nbsp; This happened with only one interest rate bump.&nbsp; Clearly there is some nice momentum going.&nbsp; They ought to be creating excitement amongst investors.&nbsp; He is hoping Trump will take a look at what the banks are allowed to pay out.&nbsp; There should be room for dividend growth.&nbsp;<em> (Analysts&rsquo; target: $24.72).&nbsp;</em></p> http://stockchase.com/opinions/view/167822 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167822 Imperial Oil <p>This is cheap.&nbsp; If you want diversification then he likes this one.&nbsp; They have this huge guardian angel in the form of Exxon Mobil.&nbsp; It has not had the big bounce that some of the oil companies have had.&nbsp; He thinks only good things can happen with this one.</p> http://stockchase.com/opinions/view/167823 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167823 Power Financial Corp <p>They own an insurance company and a mutual fund company.&nbsp; Both have good yields. They should benefit from rising interest rates.&nbsp; 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. <em>(Analysts&rsquo; target: $35.00).</em></p> http://stockchase.com/opinions/view/167824 Thu, 19 Jan 2017 00:00:00 -0500 http://stockchase.com/opinions/view/167824