Optimism for high oil prices for the long-term — Stockchase Weekly Top Picks
A company that recently settled class actions...
TOP PICK #1
SNC Lavalin (TSX:SNC)
We selected Prakash Hariharan’s, Portfolio Manager at Analytixinsight Inc., recommendation of SNC-Lavalin Group Inc. as a Top Pick. “Good backlog. Exposure on the oil and gas looks good.” he noted.
Revenues from Oil & Gas…
SNC-Lavalin gets 36% of its revenues from Oil & Gas industry segment, recovery of this industry is an excellent catalyst for the growth of the company. Higher oil prices are likely to give scope for new oil production, meaning new contracts for SNC-Lavalin.
Recently settled class actions…
The company has recently settled two class action lawsuits by its shareholders.