Canadian Pacific Ships (TEU.TO) Buy, Sell or…

Canadian Pacific Ships (TEU.TO)

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Taking a close look at it. Stock price is pretty close to book value. Trans Pacific shipping is doing well, but CP is trans Atlantic. If they make anywhere close to their numbers, it would be a good time to jump in.

DON'T BUY

Has had a difficult year. An accounting controversy took a good chunk off the stock. Last quarter earnings were very weak. A very volatile part of the economy.

HOLD

Had an accounting issue last quarter in terms of a writedown evaluation. They are looking for a stronger 2nd half.

DON'T BUY

Accounting was suspect due to new software reporting problems. A lot of new container ships are coming on the market, so competition will be stronger.

DON'T BUY

There is a glut of tanker capacity both now and for the future.

BUY

A torpedo stock in that it was in a downtrend and then took a sudden drop. Feels it is at the bottom and technically it is a buy.

BUY

Model price is $25 and is ranking in the top 10%. Worth a nibble.

TRADE

The company had some accounting problems. Stock is cheap.

TRADE

Recommend with target of 17.50 dollars. Neutral on this name

DON'T BUY

Too early to tell. Wait for another quarter. Trans-Atlantic routes is a tough area.

BUY

Could be a little bit oversold at this point. New accounting system has shown up problems in their old system, requiring them to restate their earnings quite materially. Shipping business is not a bad place to be right now.

TRADE

Not only did they have to restate earnings, but their current quarter was very lousy. High fuel prices affected them.

DON'T BUY

Down 17/20% today because of a restatement of earnings back to 2002. Management should have had a better handle on this. Good drop further.

HOLD

Well-managed company.

DON'T BUY

Most of their trade is transatlantic, not Asia. Supply of container ships is increasing in the next couple of years.

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Canadian Pacific Ships (TEU.TO)