Opinions by Christine Poole | StockChase
2245
Christine Poole

CEO & Managing Director

ON STOCKCHASE SINCE Jul 2009

GlobeInvest Capital Management


Opinions by Christine Poole



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2017-11-10

N/A
A Comment -- General Comments From an Expert 

Markets. Earnings have been decent, but it needs to go on being strong to propel stocks higher. Third-quarter US earnings have been reported and are almost complete now. They came in better than the expected 5%. Coming in around 8%-9%. Indices are trading above historical averages, so she is not expecting any more multiple expansion to keep markets going higher. They really need that profit growth to keep going up.

Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $0.020
Owned: _N/A

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2017-11-10

COMMENT
Aurora Cannabis (ACB-T)

A market cap well above $1.5 billion, but only $8 million in sales, so valuation has a real disconnect. A lot of these stocks move on news or momentum, not necessarily on the underlying financials.

Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $4.640
Owned: No

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2017-11-10

COMMENT
Agrium (AGU-T)

They are targeting the 4th quarter to complete their merger with Potash (POT-T). The new company is going to be called Nutrient.

chemicals
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $135.500
Owned: Unknown

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2017-11-10

COMMENT
Algonquin Power & Utilities Corp (AQN-T)

Canadian utility companies seem to be making acquisitions for growth. She owns this in some of her utility accounts. Utilities are focused on renewables, which is a positive. A nice trend for the future. They recently made a $500 million equity issue, which is why the stock pulled back, as they usually do an issue below the market price. Longer-term, this is an attractive investment and offers an attractive dividend yield.

electrical utilities
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $13.320
Owned: Yes

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2017-11-10

COMMENT
BCE Inc. (BCE-T)

She’s used both this and Telus (T-T) as income stocks. Both have an attractive yield, close to 4.5%-5%. They generate a lot of cash flow, so will typically increase their dividend at a modest pace each year. They’ve done relatively well. She doesn’t expect a lot of capital appreciation, maybe 5% from here at best, plus the yield. Uses these for defensive and income purposes.

telephone utilities
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $61.170
Owned: Yes

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2017-11-10

COMMENT
Baytex Energy Corp (BTE-T)

Has very low energy weightings in her portfolios. Even though energy prices have risen, there is not a lot of visibility in what may play out in the next 6-12 months. This is more levered than the other companies. She wants a very strong balance sheet. 

oil/gas
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $4.180
Owned: No

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2017-11-10

TOP PICK
Cineplex Inc (CGX-T)

Has lost altitude, partly because of Hollywood’s bad products. Is the decline in attendance systemic or cyclical? She thinks it is cyclical. They’ve put in initiatives to diversify away from the box office, including growing its digital media business, eSports franchise, and opening Rec Room restaurants. Dividend yield of 4.7%. (Analysts’ price target is $44.50.)

other services
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $36.500
Owned: Yes

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2017-11-10

COMMENT
Corus Entertainment (B) (CJR.B-T)

This bought the media assets from Shaw, and media is going through a lot of changes. Content is important. She is not enticed to go into this space other than her holdings of Disney (DIS-N). 9.6% dividend yield is quite high, at any time it goes above 6%-7%, you have to start looking at the cash flow performance of the company and how sustainable it is for the long-term.

entertainment services
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $11.660
Owned: No

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2017-11-10

PAST TOP PICK
Chartwell Seniors Housing (CSH.UN-T)

(A Top Pick Nov 15/16. Up 12%.) Just reported this morning and had good numbers and improvement in their Net Operating Income. She likes Senior Housing where the demographics work in your favour. Sold all their US assets a few years ago, and invests solely in Canada now.

property mngmnt/investment
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $15.860
Owned: Yes

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2017-11-10

COMMENT
CVS Health Corp (CVS-N)

She is going to continue holding this, even though Amazon (AMZN-Q) may enter the mail order drug delivery space. Feels they are well positioned. They have the infrastructure and their PBM service, so can compete if they have to. The multiple has really contracted, trading at about 12X forward earnings. There are rumours that CVS may buy a health insurance company, possibly Aetna, which has caused the stock to pull back. They are virtually integrating in that whole chain, and will eventually derive more scripts and more services into their retail network, which will help lower overall hospital costs.

specialty stores
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $70.990
Owned: Yes

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2017-11-10

HOLD
DowDuPont Inc. (DWDP-N)

On her watch list. The investment thesis is that eventually they plan to spin out various operating divisions. The hope is that the sum of the parts is greater than the total. A cyclical name, so in an environment where you are seeing improving economic fundamentals, that is a positive. Has done relatively well and the pullback was maybe just for valuation measures.

chemicals
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $69.970
Owned: No

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2017-11-10

COMMENT
Enbridge (ENB-T)

Hitting new multiyear lows. When they recently reported 3rd quarter earnings, they were asked about their dividend policy, where they had indicated they can grow their dividend 10%-12% annually to 2024. That’s been their stance for a number of quarters. The company said they were finalizing plans and would be addressing this at their investors day mid December. Feels this affected the stock. The market does not like uncertainty.

oil/gas pipelines
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $46.290
Owned: Yes

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2017-11-10

TOP PICK
CGI Group (A) (GIB.A-T)

About half their revenue comes from outsourcing on long-term contracts, which are reoccurring, and the other half is systems integration consulting contracts. They are well positioned on the technology trends, with everybody having to develop a digital platform and automate processes for artificial intelligence. Companies are having to look at their legacy technology systems, and upgrade to make them more digital, online. When you do that, you are inviting customers and the world onto your website, which means cyber Security is another issue. This company has solutions to address all these metrics. Very global with about 50% from Europe, 30% in the US and the balance in Canada and Asia. (Analysts’ price target is $74.)

consulting
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $67.650
Owned: Yes

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2017-11-10

PAST TOP PICK
Alphabet Inc. (A) (GOOGL-Q)

(A Top Pick Nov 15/16. Up 35%.) The valuation is not as attractive as it was a year ago. They’re executing well. Have had over 20% revenue growth for 21 consecutive quarters. Has a lot of cash overseas, which will be a benefit if the whole US tax reform comes in for repatriation of foreign taxes.

Business Services
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $1044.150
Owned: Yes

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2017-11-10

PAST TOP PICK
Home Depot (HD-N)

(A Top Pick Nov 15/16. Up 35%.) This was made on the play of improving GDP growth in the US, and improving housing. There is a shortage of inventory in the US housing market, so many people are opting to stay in their existing home, and to upgrade and renovate.

specialty stores
Christine Poole

CEO & Managing Director, GlobeInvest Capital Management

Price: $164.110
Owned: Yes

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