PWF Preferred Shares 5.5% Perpetual (PWF.PR.E.TO)

Our PAST TOP PICK with PWF.PR.E is progressing well.  To remain disciplined, we recommend trailing up the stop from $21 to $23 at this time.

Our PAST TOP PICK with PWF.PR.E has achieved its target at $25.  To remain disciplined we recommend covering half the position at this time and trailing up the stop (from $19) to $21.  

As the Canadian central bank has begun to reduce interest rates, preferred shares should benefit.  We reiterate PWF.PR.E as a TOP PICK.  The parent company POW recently reported EPS increasing by 138%.  Cash reserves at the parent are growing, while debt is retired and shares bought back and their stock trades at 10x earnings and 2x book value.  We continue to recommend a stop at $19, looking to achieve $25 -- upside potential of 16%.  Yield 6.4%

We reiterate this Canadian based preferred share offering by Power Financial.  The parent company POW recently reported EPS increasing by 138%.  Cash reserves at the parent are growing, while debt is retired and shares bought back and their stock trades at 10x earnings and 2x book value.  We continue to recommend a stop at $19, looking to achieve $25 -- upside potential of 16%.  Yield 6.4%

With the Canadian Central Bank hinting that further interest rate increase are unlikely going forward as inflation abates, we again reiterate PWF.PR.E as a TOP PICK.  The parent corporation, POW, trades at 15x earnings and 1.2x book value. Quarterly cash reserves of the parent are growing, as debt is retired and shares bought back. We recommend trailing up the stop (from $17.50) to $19.00, looking to achieve $25.00 -- upside potential of 19%.  Yield 6.1%

As the Canadian Central Bank suggests no further interest rates are likely necessary to curtail inflation, we reiterate preferred shares as a TOP PICK.  The parent, Power Corp., holds an international diversified portfolio of financial assets and services.  We continue to recommend a stop-loss at $17.50, looking to achieve $25 -- upside potential over 23%.  Yield 6.8%

The parent company, POW, generates $6.6 billion in free cash flow and trades at only 1.1x book value.  This preferred share pays a perpetual quarterly dividend that has a great yield and high (Pfd-2H) credit rating.  Rising interest rates have reduced the preferred share value to a discount of its $25 par value; however, when interest rates return to long term levels this can provide possible upside potential of 19%.  We recommend placing a stop-loss at $17.50.  Yield 6.5%