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Daily Stock Opinions and Ratings
Stockchase Opinions

John PriestmanConnors Bros. Income FundCBF.UN.TOBUYDec 31, 2004

A good trust in the seafood industry is Connor Bros. Low payout ratio at 70%. Good balance sheets.
John PriestmanJohn Priestman
Unknown
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$18.65

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SELL

Connors Bros. Income Fund(CBF.UN.TO)

May 14, 2008
(Market Call Minute.) Have had difficulty with making acquisitions in the US outside of their sardine business.
Photo of Michael Simpson, CFAMichael Simpson, CFA
No
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$7.54

Stock price when the opinion was issued

investment companiesfunds
DON'T BUY

Connors Bros. Income Fund(CBF.UN.TO)

Apr 16, 2008
There are quite a few things in play with this trust. Had a recall that forced them to shut down production and for a longer period than expected. There are some headwinds that food, tin manufacturers will be facing. Steel and tin prices are continuing to move higher. Also expecting protein prices to move higher. There are better places to go.
Photo of Ben ChengBen Cheng
No
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$7.39

Stock price when the opinion was issued

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SELL

Connors Bros. Income Fund(CBF.UN.TO)

Feb 19, 2008
Will have to get their fiscal house in order before they can go back to the prior distribution level. There are facing increases in commodity prices. Will possibly take another year or so before they can realistically raise distributions.
Photo of Bill ShawBill Shaw
No
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$7.00

Stock price when the opinion was issued

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DON'T BUY

Connors Bros. Income Fund(CBF.UN.TO)

Feb 06, 2008
Distribution story has been a long-term issue. Have had to cut them several times. It took too much debt onto its balance sheet. Income trusts have to have very conservative balance sheets.
Photo of Andrew Guy, CFAAndrew Guy, CFAUnlock Rating
$7.40

Stock price when the opinion was issued

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COMMENT

Connors Bros. Income Fund(CBF.UN.TO)

Dec 24, 2007
His partner bought into this, but not attractive enough for him. If they get their house in order, there will be better distributions going forward. He couldn't see that the upside was attractive enough.
Photo of Benj GallanderBenj Gallander
No
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$7.52

Stock price when the opinion was issued

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SELL

Connors Bros. Income Fund(CBF.UN.TO)

Jul 27, 2007
Too early to go into this one yet. Management did a great job. Very proactive in recalling the tainted product (only a small portion of their business). Had to shut down a plant and not sure when that will reopen. Also have cost pressures in their core business of tuna and sardines.
Photo of Andrew Guy, CFAAndrew Guy, CFA
No
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$10.00

Stock price when the opinion was issued

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SELL

Connors Bros. Income Fund(CBF.UN.TO)

Jul 25, 2007
Has been subject to a recall because of botulism, but this will only affect a small part of their business. However, this could be a growing problem.
Photo of Leslie LundquistLeslie Lundquist
No
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$10.10

Stock price when the opinion was issued

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BUY

Connors Bros. Income Fund(CBF.UN.TO)

Jul 13, 2007
Had some difficulties, but has proven to be a well managed company. Attractively priced. Well financed, so distributions are not threatened. 11.9% yield.
Photo of Michael SprungMichael Sprung
No
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$11.30

Stock price when the opinion was issued

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BUY

Connors Bros. Income Fund(CBF.UN.TO)

Jun 15, 2007
The distribution is fairly safe at this time. Has gone through some transitions over the last couple of years. Herring to Tuna. Management is consistent, and financials are consistent. Feels the price of the product will increase to cover the cost of transporting goods.
Photo of Michael SprungMichael SprungUnlock Rating
$11.04

Stock price when the opinion was issued

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DON'T BUY

Connors Bros. Income Fund(CBF.UN.TO)

May 29, 2007
Payout is in Cdn$ and most of its earnings are in US$’s. Also have been hurt by rising energy prices. Have improved profit margins by more efficient processes, but will be difficult going forward.
Photo of Ben ChengBen ChengUnlock Rating
$11.20

Stock price when the opinion was issued

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HOLD

Connors Bros. Income Fund(CBF.UN.TO)

May 25, 2007
Have brought a lot of their problems under control. Brought their debt down. Consolidated to take the costs out of the system. Will be slow money over the next little while. Distribution is safe.
Photo of Andrew Guy, CFAAndrew Guy, CFAUnlock Rating
$11.37

Stock price when the opinion was issued

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COMMENT

Connors Bros. Income Fund(CBF.UN.TO)

Apr 13, 2007
Management really wants to grow the company. Very good stable cash flow business.
Photo of Sandy McIntyreSandy McIntyreUnlock Rating
$11.86

Stock price when the opinion was issued

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HOLD

Connors Bros. Income Fund(CBF.UN.TO)

Apr 11, 2007
Probably one of the better run income trusts. Wouldn't be concerned about their distribution.
Photo of Michael SprungMichael SprungUnlock Rating
$11.65

Stock price when the opinion was issued

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WEAK BUY

Connors Bros. Income Fund(CBF.UN.TO)

Mar 20, 2007
Volumes were down, but made up for it with increases in price. Good earnings revenue. Making progress in reducing their payout ratio of about 93% as well as reducing debt. Debt levels are too high for him.
Photo of Michael Simpson, CFAMichael Simpson, CFA
No
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$11.64

Stock price when the opinion was issued

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BUY

Connors Bros. Income Fund(CBF.UN.TO)

Feb 20, 2007
Extremely well run. Well diversified. Expect them to be a fairly steady performer over the long run.
Photo of Michael SprungMichael SprungUnlock Rating
$11.38

Stock price when the opinion was issued

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Stockchase, in its reporting on what has been discussed by individuals on business television programs (in particular Business News Network), neither recommends nor promotes any investment strategies.

We paraphrase the experts by hand, we watch the shows and write down what we understood from the experts’ comments. We are human and can make mistakes, help us fix any errors. If you see something that you know is not right or if there is a problem with the site, feel free to email us at: [email protected].

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