Nova Chemicals Corp. (NCX.TO) Buy, Sell or Hold

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Daily Stock Opinions and Ratings

Nova Chemicals Corp. (NCX.TO)

0.00

-0.00 (0.00%)

5 watching

PAST TOP PICK

(A Top Pick Sept 15/06. Down 4%.) Still likes. Surprised it had dropped as far as it did. Thinks it will be okay.

BUY ON WEAKNESS

Seems to be stuck in a trading range and could see a downtrend to its lower support level. Would wait and you may be able to get it a little bit cheaper, hopefully $32-$33 range .

PAST TOP PICK

(A Top Pick Feb 2/06. Down 13.3%.) Reviewed it after it had fallen about 10% and concluded that assumptions about expanding margins on the ethylene side where wrong. Sold his holdings.

TOP PICK

(A Top Pick Sept 15/06. Down 13.4%.) In a sector he would like to be in next year as he is nervous about the market. Likes industrial. Input costs are going down.

DON'T BUY

Balance sheet got so over levered so this affected their dividend. Earnings are extremely volatile. Very thin margins. Downside risk.

BUY

As an advantage with cheap gas, but had some operational problems at its plants. Good price and you could see some decent upside from this point.

DON'T BUY

Trying to fix itself. Chemicals are having a hard time getting any credibility right now.

SELL

Doesn't like them very much. Being buoyed by cheap natural gas for the moment, but with the slow growth in the US for chemicals, not a good place to be.

TOP PICK

The A, B, C correction is over. We are now into deep support. Doesn't think it will go lower.

WEAK BUY

If you needed to be in this section, this would be better than Agrium (AGU-T) or Potash (POT-T) but this is not as strong recommendation.

DON'T BUY

Their input is natural gas and you would think with the lower prices it would be better for them, but margins got squeezed on the downside. This is a cyclical company that you would start to worry about.

HOLD

He bought this on the prospects that ethylene and polyethylene prices would increase however, buyers have hesitated in building inventory. He is hoping for a bit of a recovery.

WATCH

His model price is $39 and has dropped as earnings estimates have come down. As a positive differential of 26%. Looks interesting, but the fundamental value is eroding with the earnings.

SELL

Thinks we are heading to a point in the cycle where there is downward pressure. US analysts downgraded the chemicals in the US. Feedstock costs are rising.

DON'T BUY

A cyclical company. If you believe that the US is heading into slower times, now is not the time to be in a cyclical chemical company.

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Nova Chemicals Corp. (NCX.TO)