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

Nova Chemicals Corp. (NCX.TO)

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5 watching

BUY

Major breakout yesterday, which is continuing today. It has been fighting 40 dollar area for a long time. This means there is a major buy interest.

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TOP PICK

(Past top pick June 15/04. Up 11%.) Still likes. Demand for plastics and consumer related commodities from China continues to be very strong. A trading oriented stock.

TOP PICK

High risk/volatile stock. Demand for chemicals should be strong.

DON'T BUY

His valuation on the stock is in the $10/12 range because they are extremely leveraged to both feedstock costs (gas and oil) but also interest rates. With an improved economy, they should do OK. Better opportunities elsewhere.

DON'T BUY

Price increases on their costs will put pressure on margins. Fully valued

HOLD

Likes the petro-chemical companies because the pricing is improving. Feed stock is natural gas which is quite volatile, but a good type of stock to own.

BUY

Came out with some good earnings.

WEAK BUY

Owns preferreds but no common shares. Has had a bit of a tough year. It will continue to move along.

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DON'T BUY

Needs an economic recovery in US and Europe.

DON'T BUY

Trading above what its worth. Negative earnings.

WAIT

Seems to have a lot of support in the $25 range. Expecting a break even this year, but an improvement in 2004/2005 and up to 2007. Might be a good entry point. Trading below its 50 and 200 moving averages. Wait for the trend line to start moving up.

DON'T BUY

Not a fan. Earnings are erratic.

DON'T BUY

Just sold their interest in Methanex which helps the balance sheet, but still has some issues. Economically sensitive. Has a lot of competition from offshore producers with lower operating costs.

BUY

If the economic growth comes as expected, it will be very good. Also holds the largest methanol producer Methanex.

BUY

Numbers just came out and there were no disappointments. Good cyclicaL company. Not expensive. Should be a good performer over the next 6 to 9 months.

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Nova Chemicals Corp. (NCX.TO)