Stock Opinions by Ryan Bushell - Stockchase Experts
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Ryan Bushell @

On Stockchase since : Jan 2013

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Stock Opinions by Ryan Bushell - Stockchase Experts


Signal Opinion Expert Chart
COMMENT
General Market Comment 

July 3, 2018

Market. He thinks Canadian energy stocks should have performed much better given how oil prices, converted to Canadian dollars, has risen.  Following the OPEC meeting and strong demand forecasted for the latter half of the year, he expects some catch up in the sector.  He adds geopolitics in Libya, Venezuela and other others should add to the head winds.   He likes the Canadian banks, trading at 10-12 times earnings and there have been reports of good earnings growth.  He would be adding to his holdings in this space.   

Market. He thinks Canadian energy stocks should have performed much better given how oil prices, converted to Canadian dollars, has risen.  Following the OPEC meeting and strong demand forecasted for the latter half of the year, he expects some catch up in the sector.  He adds geopolitics in Libya, Venezuela and other others should add to the head winds.   He likes the Canadian banks, trading at 10-12 times earnings and there have been reports of good earnings growth.  He would be adding to his holdings in this space.   

Unknown
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$0.020
Owned Owned
_N/A

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COMMENT

CN Rail versus CP. He does not see the tariff war directly impacting the rail companies.  CN (CNR-T) is a little more exposed to cross-border trade, however.  CN is a core holding in his portfolio.  He does not hold CP.  He would not add to his position, rather would continue to hold.    

Transportation

CN Rail versus CP. He does not see the tariff war directly impacting the rail companies.  CN (CNR-T) is a little more exposed to cross-border trade, however.  CN is a core holding in his portfolio.  He does not hold CP.  He would not add to his position, rather would continue to hold.    

Transportation
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$105.790
Owned Owned
Yes

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COMMENT

CN Rail versus CP. He does not see the tariff war directly impacting the rail companies.  CN (CNR-T) is a little more exposed to cross-border trade, however.  CN is a core holding in his portfolio.  He does not hold CP.  He would not add to his position, rather would continue to hold.    

Transportation

CN Rail versus CP. He does not see the tariff war directly impacting the rail companies.  CN (CNR-T) is a little more exposed to cross-border trade, however.  CN is a core holding in his portfolio.  He does not hold CP.  He would not add to his position, rather would continue to hold.    

Transportation
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$236.940
Owned Owned
No

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DON'T BUY

National Bank (NA-T) vs other banks. These smaller banks are more regional (Quebec in this case).  The Quebec economy is doing well.  The underlying business is more capital focused and therefore more volatile in his mind.  He would still prefer to own the major banks, which are trading relatively cheaply, he thinks.  

banks

National Bank (NA-T) vs other banks. These smaller banks are more regional (Quebec in this case).  The Quebec economy is doing well.  The underlying business is more capital focused and therefore more volatile in his mind.  He would still prefer to own the major banks, which are trading relatively cheaply, he thinks.  

banks
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$62.660
Owned Owned
No

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BUY on WEAKNESS

This stock benefited from a run out of commodities a few years ago.  There was an uptake in the success of Amazon and Google with the rise in consumer shipping.  It has become too expensive now and he thinks it is not going anywhere – up or down.  He would not be a buyer at these levels.  He would want to see the yield back above 3.5% before re-entering.    

packaging/containers

This stock benefited from a run out of commodities a few years ago.  There was an uptake in the success of Amazon and Google with the rise in consumer shipping.  It has become too expensive now and he thinks it is not going anywhere – up or down.  He would not be a buyer at these levels.  He would want to see the yield back above 3.5% before re-entering.    

packaging/containers
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$17.710
Owned Owned
No

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HOLD

All the telecoms have faced headwinds lately and Rogers has not increased its dividend since 2015. There has been a lot going into capital spending on their cellular network. It is too expensive at this time. He holds it, but is not adding.

Cable

All the telecoms have faced headwinds lately and Rogers has not increased its dividend since 2015. There has been a lot going into capital spending on their cellular network. It is too expensive at this time. He holds it, but is not adding.

Cable
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$62.190
Owned Owned
Yes

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STRONG BUY
Altagas Ltd(ALA-T) 

July 3, 2018

He has recommended this several times.  The acquisition is now closed on WGL.  They sold about 1/3 of their Northeast BC assets to pay for it.  This has worked out well, because these assets are trading at a premium in the private capital market.  He has been buying since $24 and likes the 7% yield.  

oil/gas

He has recommended this several times.  The acquisition is now closed on WGL.  They sold about 1/3 of their Northeast BC assets to pay for it.  This has worked out well, because these assets are trading at a premium in the private capital market.  He has been buying since $24 and likes the 7% yield.  

oil/gas
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$27.620
Owned Owned
Yes

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HOLD
Russel Metals(RUS-T) 

July 3, 2018

It has been caught a little in the trade war with the US, due to its cross-border business dealings in steel.  The fundamentals still look strong for the company, he says.  It is a great management team.  He would sell above $30 and would buy around $25.  Otherwise he would hold it here.  Yield 5%.

steel

It has been caught a little in the trade war with the US, due to its cross-border business dealings in steel.  The fundamentals still look strong for the company, he says.  It is a great management team.  He would sell above $30 and would buy around $25.  Otherwise he would hold it here.  Yield 5%.

steel
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$26.840
Owned Owned
Yes

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DON'T BUY

When the dividend was cut, it was expected by the market.  From here, one needs to consider the cash position of the company and advertising revenues.  The company is not going away, but he sees better opportunities elsewhere.  It might be a takeover target, but he does not who would step up.  No buys on the street consensus.  Yield 3%.  

entertainment services

When the dividend was cut, it was expected by the market.  From here, one needs to consider the cash position of the company and advertising revenues.  The company is not going away, but he sees better opportunities elsewhere.  It might be a takeover target, but he does not who would step up.  No buys on the street consensus.  Yield 3%.  

entertainment services
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$4.820
Owned Owned
No

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HOLD

He does not see the tariff war directly impacting the rail companies. CN (CNR-T) is a little more exposed to cross-border trade, however. CN is a core holding in his portfolio. He does not hold CP. He would not add to his position, rather would continue to hold.

Transportation

He does not see the tariff war directly impacting the rail companies. CN (CNR-T) is a little more exposed to cross-border trade, however. CN is a core holding in his portfolio. He does not hold CP. He would not add to his position, rather would continue to hold.

Transportation
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$105.790
Owned Owned
Yes

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DON'T BUY
Dollarama Inc.(DOL-T) 

July 3, 2018

He has been too bearish on this company in the past.  Now, however, with the yield below 1% and greater competition in the space, he would prefer to take profits or look elsewhere.  

Consumer Products

He has been too bearish on this company in the past.  Now, however, with the yield below 1% and greater competition in the space, he would prefer to take profits or look elsewhere.  

Consumer Products
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$50.600
Owned Owned
No

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HOLD

The parent is offering to buy the Fund at a 10% premium.  He would continue to hold this.  The share conversion is unclear to him, but he would continue to stay with this company.  

oil/gas

The parent is offering to buy the Fund at a 10% premium.  He would continue to hold this.  The share conversion is unclear to him, but he would continue to stay with this company.  

oil/gas
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$31.840
Owned Owned
No

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BUY on WEAKNESS
Fortis Inc.(FTS-T) 

July 3, 2018

For the long term, this company will do well.  It has increased its dividend for decades.  He does not believe long term interest rates will rise much above 3%, so feels the recent headwinds are almost all played out.  He anticipates this will be a good holding when a recession returns and interest rates are once again dropped to stimulate the economy.  He would like to buy them at a slightly lower price.  

electrical utilities

For the long term, this company will do well.  It has increased its dividend for decades.  He does not believe long term interest rates will rise much above 3%, so feels the recent headwinds are almost all played out.  He anticipates this will be a good holding when a recession returns and interest rates are once again dropped to stimulate the economy.  He would like to buy them at a slightly lower price.  

electrical utilities
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$42.110
Owned Owned
Yes

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DON'T BUY

It is not one of his favorites in the space – he holds Northland Power.  Rising interest rates has provided some headwinds for this space in general.  Their assets are primarily in Australia and 54% of their assets are in wind generation.  

Energy Infrastructure, Industrials & Utilities

It is not one of his favorites in the space – he holds Northland Power.  Rising interest rates has provided some headwinds for this space in general.  Their assets are primarily in Australia and 54% of their assets are in wind generation.  

Energy Infrastructure, Industrials & Utilities
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$12.460
Owned Owned
No

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DON'T BUY
Smart REIT(SRU.UN-T) 

July 3, 2018

There is a lot of debate about the REIT sector.  He is not at the point where he thinks it is time to step in.  There is a lot of competition in the holding of retail assets and with the potential of retail shop closures.  He owns WPT-T instead, which is more warehouse related.     

investment companies/funds

There is a lot of debate about the REIT sector.  He is not at the point where he thinks it is time to step in.  There is a lot of competition in the holding of retail assets and with the potential of retail shop closures.  He owns WPT-T instead, which is more warehouse related.     

investment companies/funds
Ryan Bushell

President, Newhaven Asset Manag...

Price Price
$30.750
Owned Owned
No

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