Mullen Group Ltd (MTL.TO)

Our PAST TOP PICK with MTL has triggered its stop at $13.  To remain disciplined, we recommend covering the position at this time.  When combined with our previous recommendations, this will result in a net investment loss of 2%.  

We again reiterate MTL as a TOP PICK.  Compared to others in this sector, it is undervalued and has proven its resilience under challenging market conditions.  We like that cash reserves are stable, while debt is retired and shares bought back.  It trades at 10x earnings, 1.3x book and supports a 17% ROE.  It pays a nice dividend that is backed by a payout ratio under 50% of cash flow.  We continue to recommend a stop at $13, looking to achieve $18 -- upside potential of 18%.  Yield 4.8%

As management expects a stronger finish to last year than expected, based on consumer resiliency along with their ability to control costs and make good acquisitions, we reiterate MTL.  We like that cash reserves are stable, while debt is retired and shares bought back.  It trades at 11x earnings, 1.3x book and supports a 17% ROE.  It pays a good dividend, backed by a payout ratio of under 50% of cash flow.  We recommend trailing up the stop (from $11) to $13, looking to achieve $17 -- upside potential of 19%.  Yield 5.0%    

Okotoks based transportation logistics specialist, MTL, trades at 10x earnings, 1.2x book and supports a 17% ROE.  Cash reserves are stable, while debt is retired and shares are bought back. The comany continues to make good acquisitions during this challenging time for the sector.  It pays a good dividend, backed by a payout ratio under 50% of cash flow.  We recommend placing a stop-loss at $11, looking to achieve $17 -- upside of 28%.  Yield 5.2%