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Stock Opinions by Bill MacLachlan

TOP PICK
Likes the way they diversified into global asset management. Good management. North America’s largest hydro producer. Tremendous portfolio of Class A real estate. Really a global asset infrastructure play.
management / diversified
TOP PICK
(Preferred A) Likes the free cash flow and dividends (currently over 4%).ROE of about 13%. Good growth potential despite all the competition. Has a new product called OpticTV, which has proven to be quite successful and will help them to compete.
telephone utilities
TOP PICK
With changes in pricing and the changes in markets, competition has been stabilized and is starting to diminish. 4.8% yield is supportable. Trading at 11X next year’s earnings. Reasonable dividend growth.
other services
DON'T BUY
For a long term business plan, he just doesn’t see it. Information they provide is available free on line. A shrinking business that will have shrinking margins.
communications / media
HOLD
Companies in this space are facing huge competition but over the long haul, with increasing use of smart phones and the data (where the profit margin is), a lot of these companies are going to do quite well. Also increasing convergence of smart phones, TVs, internet, etc
Cable
DON'T BUY
Doesn’t expect any growth potential. Had been concerned with their inability to retool their supply chain regarding competition with Wal-Mart (WMT-N) and has made great progress, which has been reflected in the stock price. Doesn’t see it getting much stronger.
food stores
SELL
Facing significant competition in pricing on the wireless side. Can’t see much growth potential. Good yield of 5.7% but can’t see anything else going for it. Better choices out there.
telephone utilities
DON'T BUY
Natural Gas. Recent technological improvements have meant that reserves are coming out in abundance so can’t see prices going up from here.
Unknown
BUY
Significant position in the Bakken play in Saskatchewan. Reasonable value. Have some concerns for longer term on the price of oil. As a small portion of a portfolio, it is a reasonable entry.
oil / gas
DON'T BUY
Has been disappointing. Bit of a revolt because of the main line tolls from gas marketers. Lower natural gas prices are not good for them. Can’t see where they are going to get the growth.
oil / gas pipelines
HOLD
Just increased their dividends. Doesn’t see a continuous boom in commodity prices but expects a retrenchment in prices.
Mining
BUY
Likes Cdn banks. In a period of rising interest rates, which he doesn’t expect to happen soon, they might find a little squeeze in terms of their book. Expecting dividend increases over the next couple of years.
banks
TOP PICK
Thinks they are the strongest financial institution in Canada. Has a tremendous franchise. Thinks their US assets are manageable. Incredibly cheap at 9 X next year's earnings. Yield of 5.6%.
banks
TOP PICK
Good cash flow. They have a tremendous advantage in their reserves.
integrated oils
TOP PICK
Canada's largest engineering company and they operate globally. Infrastructure is a key building block in governments’ attempts to stimulate the economy. No debt and lots of cash. ROE is about 27% for 2008.
contractors
Showing 1 to 15 of 233 entries