Daily Stock Opinions and Ratings

Opinions

Michael Sprung Nova Chemicals Corp. NCX-T DON'T BUY Nov 06, 2007

Being impacted a lot by the strong Cdn$. Feedstock and energy prices going forward will be a big worry for them. There is a fairly tight styrene market, but have not been able to pass the increased prices on. An extremely hard company to read.

Michael Sprung

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$32.330

Stock price when the opinion was issued

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BUY

(Market Call Minute.) Likes the story very much.

BUY

Compared to their competition they have some sweetheart deals in Alberta for their raw material, mostly natural gas. Looks like it has bottomed for now and the yield is OK.

DON'T BUY

200 day moving average is currently falling. Broke below it in October of 2007. Not yet ready.

COMMENT

Chemical stocks have suffered dramatically along with all things related to commodities. Selling pressure in this one may be over. From a risk/reward perspective you have to pay a lot of attention. When chemical prices turn, they turn with a vengeance.

WAIT

This is dependant on the commodity cycle. It has more to go on the downside.

COMMENT

Gets tarred with an industrial chemical company. When investors are looking for liquidity they sell anything. Should respond on the upside as the market gets going. Costs are coming down because of lower oil prices.

DON'T BUY

A frustrating name. Essentially 2 businesses with polyethylene being good but styrenics has never really paid off. We prefer others.

HOLD

Market is very fearful right now that the company is going to go bankrupt. As a big debt load and chemical prices, specifically ethylene, have collapsed. There are strong rumours that the Alberta government might step in. Wouldn't panic and Sell. The prudent thing to do would be to take half off the table.

COMMENT

One of the giants of ethylene production. Very cyclical. Big debt and low pricing problems. Thinks it should be looked at as it may be a fabulous buy for the next cycle.

SELL

Represented unbelievable value but had near-term risk of default. If you own, you have a risk that the buyer walks. He would take the money is there are a lot of other opportunities.

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Michael Sprung Nova Chemicals Corp. NCX-T DON'T BUY Nov 06, 2007

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