Opinions
Michael Sprung
E-L Financial
ELF-T
BUY
Feb 20, 2007
Exposed mainly to financial services through Empire Life and Dominion of Canada and General Insurance. Always run very conservatively. Good long-term hold.
$698.000
Stock price when the opinion was issued
insurance
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RISKY
Very good product. Manufacturing processes are very green. Battery is super compact. They are testing in massive pilots for utility companies to store power for peak time. Also could be used in cars. Analyst coverage just picked up. Sept ’11 earnings wont be up to much. Question is the next year. It’s very early days.
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Stockchase Research Editor: Michael O'Reilly
ELF offers investments and insurance and includes Empire Life. It trades at 4x earnings, under book value, and supports a ROE of 14%. Recently reported earnings demonstrated a 57% in net income and growing cash reserves. We recommend setting a stop-loss at $12.00, looking to achieve $17.50 -- upside potential of 18%. Yield 1.1%
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