Shoppers Drug Mart Corp (SC.TO) Buy, Sell or…

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Shoppers Drug Mart Corp (SC.TO)

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TOP PICK

A contrarian move. Feels there is nothing but upside after the court ruling and the resignation of the CEO.

DON'T BUY

Announcement of the CEO resigning created a sell-off but is now catching up again. A lot of issues on rebates for generic drugs. Area is becoming very competitive. (News-wires just reported a court ruling that is favourable to Shoppers.)

BUY

In the retail sector, this has been a growth stock. Was blind-sided by the generics issue, it will affect the rest of the industry more. They will get back on the growth track. A legal issue was announced today but now it is a buy.

DON'T BUY

Anything over 5% of your portfolio is too much. Great company, safe defensive thing. In a decade they will look back and be better off. Will be at the same price in a year or two and then it will be attractive.

DON'T BUY

Great store but worries him about the retail sector is the melding of one specialty business into another.

DON'T BUY

Classic case of a really good business but not an equity that he wants to own. Trades at a premium multiple and too much competition.

DON'T BUY

Expect it will continue to mark time for a while but not looking for any more downside. You get a bit of a dividend. You can put it away and it will start to move back but it will take a long time..

HOLD

Being sued for $1 billion by some of its storeowners. This means a bit of a holdup on a company that has not performed as well lately in its business.

PAST TOP PICK

(A Top Pick Nov 26/09. Down 12.37%.) Still likes. Could be disappointing for a short term horizon of 1 year or less but for a longer term it’s a good Buy here.

DON'T BUY

Slower growth story. Will undoubtedly see the “Ma and Pa” pharmacies in Ontario devastated over the next few years. The front of the store will be the profit centers with new products.

PAST TOP PICK

(A Top Pick Oct 21/09. Down 10%.) Ontario legislation on generic drugs took the wind out of this one. Managed to fight its way back off the lows. Will probably be dead money for a bit longer. Still a Hold.

BUY

Has been badly beat up. Good company. A lot of the problems regarding Ontario legislation should be built into the stock. Coming into the Christmas season and this company is a very good marketer.

PAST TOP PICK

(A Top Pick Sept 15/09. Down 10.2%.) When the government made their decision on generic drugs. He exited feeling their business will be disrupted for 2-3 years before resuming growth.

STRONG BUY

Great franchise with a great brand name. At these levels it is a great buy. Located in great locations.

DON'T BUY

First-class company but he wouldn't touch the stock here. Just announced they are going into financial services and he is not sure it's a good thing. Also announce they're going to sell some electronic equipment in some stores which would destroy their unique style.

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Shoppers Drug Mart Corp (SC.TO)