Jean Coutu Group (PJC) (A) (PJC.A.TO) Buy,…

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Jean Coutu Group (PJC) (A) (PJC.A.TO)

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PAST TOP PICK

Then 12.67 up 3.3% A safe consumer concessionary play, probably still is.

WAIT

A head and shoulders bottom. After the stock goes down, it flattens out (a shoulder) then drops (the head), then goes up and flat (the other shoulder), when it goes above the first shoulder that's a sign to buy. This stock had this signal last year, but this year it's not quite ready yet.

DON'T BUY

Still too much uncertainty for him. This sector is quite expensive and it may be best to avoid it at this time.

SELL

Their US asset, Eckerd’s didn’t work so they sold to Rite Aid (RAD-N) and took stock back. Giving them exposure to a bigger US drug chain. It is run very well in Quebec, but Shoppers (SC-T) is moving in. If you own, move over to Shoppers.

HOLD

Extricated themselves from a US asset at a fantastic price. Same-store sales in Canada were up 9%. Trading at about 20 X earnings, about the same as Shoppers (SC-T), which is a much better company.

PAST TOP PICK

(A Top Pick Dec 6/06. Up 15.2%.) This was picked as a safe place to hide. Had a 1st run up at the end of last year, pulled back quite nicely and will probably hold break here. Thinks it will go higher.

DON'T BUY

Concerned about their acquisition and the turnover in management. Also, she tends not to buy multiple voting stocks. Making some progress, but not out of the woods yet.

HOLD

Had a lot of issues, as its US expansion was not going well. Made a deal with Rite Aid so things are looking a little better. Still some risk. Wouldn't buy.

DON'T BUY

3rd largest drugstore chain in Canada. In the process of selling their US asset Eckert to Rite Aid for shares. The Canadian operation continues to chug along very well, but Rite Aid is a third rate player in the US.

DON'T BUY

Had some pretty good same-store-sales growth in Canada. Has being through a lot of troubles. Comparing its P/E ratio of $.57 puts it at a higher multiple than Shoppers (SC-T), which is outrageous.

TOP PICK

A defensive play. Has been beaten up. A safe place to be in case we get the mini bear.

BUY

Sold their US operations, which will dramatically improve their balance sheet. Expect they will expand into Ontario.

PAST TOP PICK

(A Top Pick Nov 18/05. Down 7.1%.) Weren't too successful on the US acquisition. Sold his holdings.

DON'T BUY

Jumping into the US did not make sense to him. Would own Shoppers (SC-T) instead.

SELL

The US Eckerd stores weren’t as good as expected and they paid a lot for them. Teaming up with Rite Aid which is another weak player.

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Jean Coutu Group (PJC) (A) (PJC.A.TO)