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

Nova Chemicals Corp. (NCX.TO)

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DON'T BUY

Cyclical. You have to look at energy prices to get a handle on this company. Really a one trick pony. Has limited upside at this price.

BUY

Likes the name a lot. Has the same risk across the board for the materials sector, i.e. economic slowdown. If you are buying for a longer term hold, you could buy now, or wait until labour day.

WEAK BUY

Has reached a point where support could be developing, but can't say for sure that it's going to hold here. A reasonable risk/reward.

BUY

On cyclicals he is not allowing for any value increases. Can be volatile but can see a 22% upside.

DON'T BUY

Chemicals are pretty cyclical in nature. There has been some pricing weakness in the polyethelene/ethylene markets which this company is a major player in. Prefers buying stocks when they are moving up, so this wouldn't be one they would be interested in right now.

BUY

Likes this sector. A cheap way to get into the resources sector. This applies to Agrium (AGU-T), Potash (POT-T), Nova Chemicals (NCX-T), or Methanex (MX-T).

BUY

Pulled back and is a Buy opportunity. Had done exceptionally well and then, because of high oil costs, tried to put a price increase through, but because of high inventory levels, customers wouldn't buy. Stock had fantastic 1st quarter results. Believes the chemical story is still in its infancy.

BUY

Just fell through its 200 day moving average. Had a parabolic move in 2004 with everybody getting excited about a breakout. When it has such a leg, it needs a correction. It has had a 1/3 correction which generally means a good time to get in when people are panicked.

BUY

Starting to look like a compelling buy. Stock went up a lot due to industrial demand for chemicals. It was really riding the resource driven wave. Started to see some weakness when people became concerned about high interest rates. Pretty good value now.

STRONG BUY

Has pulled back to some pretty good support. The upside potential is just huge.

DON'T BUY

Have a good advantage in terms of their feed stock costs as they have a lot of cost for service regulated feed of raw materials in Alberta. The short term problem is that a few analysts have downgraded chemicals in general. Have a debt laden balance sheet. Coming towards the peak in this cycle.

HOLD

Has come off with the energy complex, with the cyclicals. Had a great run and just corrected. Feels the economy is strong and this would be a HOLD.

BUY

The biggest chemical producer in Canada. Chemicals are a commodity that are in demand globally. Well positioned. A low cost producer. Have some long term contracts. Outlook is positive.

TRADE

Stock has basically doubled in the last year and profit taking has probably been the reason for the recent drop.

BUY

Cyclical business. Rising, not yet at top of gain

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Nova Chemicals Corp. (NCX.TO)