Teal Linde
Member since: Feb '14
Portfolio Manager & Publisher, Linde Equity Report at
Linde Equity Report
Linde Equity Report
600 Opinions
Latest Top Picks
The big five banks have had their weakest year in terms of earnings since 2016. It is weakening of the credit environment, net contraction of interest margins, especially in the US. The capital markets business has been weak for the banks also. RY-T has an opportunity to come back, if banks do, in a greater way than the others. (Analysts’ price target is $111.31)
Their earnings are growing at 17-18% and the stock price goes up the same amount, there is no bubble or inflation occurring there. (Analysts’ price target is $1453.53)
It is growing faster than GOOG-Q and the stock is trading at a valuation lower. They are growing three times faster than the S&P 500 but you are only paying a 20% premium. (Analysts’ price target is $234.21)
(A Top Pick Mar 11/19, Down 4%) Auto sales for new cars are slightly down and this hurt the sentiment for the whole segment. He probably recommended it a little too early. Despite the difficult environment, sales were up and they took market share. 6.5 times earnings. It is quite inexpensive to own. There is talk that America 'peaked-out' in autos in 2016. The two car family is becoming less popular.
(A Top Pick Mar 11/19, Up 39%) You have 20% growth on top and bottom lines next year and it is trading at 7.5 times earnings. He continues to like it.
Signal
Opinion
Expert
Chart
N/A
N/A
December 16, 2019
Market. Central bankers have gotten used to just throwing money at the problem and we forget how unusual this is. It used to be in the US that the economy was used to improve financial assets and now it is financial assets that are being used to improve the economy. Share prices are now rising faster than earnings and revenues. You are seeing valuation inflation. The US FED is planning on buying half a billion dollars in bonds by mid-January to put them into record territory.
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Market. Central bankers have gotten used to just throwing money at the problem and we forget how unusual this is. It used to be in the US that the economy was used to improve financial assets and now it is financial assets that are being used to improve the economy. Share prices are now rising faster than earnings and revenues. You are seeing valuation inflation. The US FED is planning on buying half a billion dollars in bonds by mid-January to put them into record territory.
TOP PICK
TOP PICK
December 16, 2019
The big five banks have had their weakest year in terms of earnings since 2016. It is weakening of the credit environment, net contraction of interest margins, especially in the US. The capital markets business has been weak for the banks also. RY-T has an opportunity to come back, if banks do, in a greater way than the others. (Analysts’ price target is $111.31)
Show full opinionHide full opinionThe big five banks have had their weakest year in terms of earnings since 2016. It is weakening of the credit environment, net contraction of interest margins, especially in the US. The capital markets business has been weak for the banks also. RY-T has an opportunity to come back, if banks do, in a greater way than the others. (Analysts’ price target is $111.31)
banks
TOP PICK
TOP PICK
December 16, 2019
Their earnings are growing at 17-18% and the stock price goes up the same amount, there is no bubble or inflation occurring there. (Analysts’ price target is $1453.53)
Show full opinionHide full opinionTheir earnings are growing at 17-18% and the stock price goes up the same amount, there is no bubble or inflation occurring there. (Analysts’ price target is $1453.53)
Business Services
TOP PICK
TOP PICK
December 16, 2019
It is growing faster than GOOG-Q and the stock is trading at a valuation lower. They are growing three times faster than the S&P 500 but you are only paying a 20% premium. (Analysts’ price target is $234.21)
It is growing faster than GOOG-Q and the stock is trading at a valuation lower. They are growing three times faster than the S&P 500 but you are only paying a 20% premium. (Analysts’ price target is $234.21)
BUY WEAKNESS
BUY WEAKNESS
December 16, 2019
He would prefer it over L-T and EMP-T. It has been the better performer over the last 10 years. Their long term strategy has been to buy back 3-5% of their stock, pay a 2% dividend, and increase their net income 5-10% per year making about a 10-17% return. As a grocery stock it has never become quite compelling enough but in hindsight it would have been a good investment. Once they get too large they just have less growth opportunities. This one is more nimble. It's valuation is on the higher end of the range so wait for a pull back.
He would prefer it over L-T and EMP-T. It has been the better performer over the last 10 years. Their long term strategy has been to buy back 3-5% of their stock, pay a 2% dividend, and increase their net income 5-10% per year making about a 10-17% return. As a grocery stock it has never become quite compelling enough but in hindsight it would have been a good investment. Once they get too large they just have less growth opportunities. This one is more nimble. It's valuation is on the higher end of the range so wait for a pull back.
food stores
WAIT
WAIT
December 16, 2019
He would not be a buyer today because there is a pending transition to electric buses. Municipalities are holding back until they become more main-stream. Wait one to two years to see larger orders.
Show full opinionHide full opinionHe would not be a buyer today because there is a pending transition to electric buses. Municipalities are holding back until they become more main-stream. Wait one to two years to see larger orders.
Automotive
DON'T BUY
DON'T BUY
December 16, 2019
He would not buy any E&P companies right now. You need a rally in the commodity price to get people excited. Companies are just paying down debt and buying back stock, but that won't get any attention. Look elsewhere.
Show full opinionHide full opinionHe would not buy any E&P companies right now. You need a rally in the commodity price to get people excited. Companies are just paying down debt and buying back stock, but that won't get any attention. Look elsewhere.
oil/gas
HOLD
HOLD
December 16, 2019
They are focusing investment down in Florida with solar energy. The dividend could continue to increase. It is good to have some utility exposure and he would consider this to be a hold.
Show full opinionHide full opinionThey are focusing investment down in Florida with solar energy. The dividend could continue to increase. It is good to have some utility exposure and he would consider this to be a hold.
mngmnt/diversified
BUY
BUY
December 16, 2019
They recently announced they are raising the dividend 10% and expanding their existing pipelines. They are expanding so they export their oil at US ports. They are going to do a joint venture in Texas out to a deep sea port to be able to export oil ocean tankers.
Show full opinionHide full opinionThey recently announced they are raising the dividend 10% and expanding their existing pipelines. They are expanding so they export their oil at US ports. They are going to do a joint venture in Texas out to a deep sea port to be able to export oil ocean tankers.
oil/gas pipelines
SELL
SELL
December 16, 2019
He used to own it. He had assumed earnings per share would continue to grow double digits. They were eventually not able to grow at a double digit rate and has been in a struggle since then. When it merged with other companies it has become difficult to forecast where the company is going to go.
Show full opinionHide full opinionHe used to own it. He had assumed earnings per share would continue to grow double digits. They were eventually not able to grow at a double digit rate and has been in a struggle since then. When it merged with other companies it has become difficult to forecast where the company is going to go.
specialty stores
HOLD
HOLD
December 16, 2019
He has always thought this one of the companies where you would hide as companies that would hold up in a downturn. They have done much better than mid-tiers. You can preserve money but not make much. It is a testament to the management of the company. It is best of breed.
Show full opinionHide full opinionHe has always thought this one of the companies where you would hide as companies that would hold up in a downturn. They have done much better than mid-tiers. You can preserve money but not make much. It is a testament to the management of the company. It is best of breed.
oil/gas
PARTIAL BUY
PARTIAL BUY
December 16, 2019
It really started moving in 2015 as a number of investments they had made started to pay off. In the last couple of years they have made large investment that they expect to pay off from here and going forward. He would consider it to take an initial position or buy on a pull back.
Show full opinionHide full opinionIt really started moving in 2015 as a number of investments they had made started to pay off. In the last couple of years they have made large investment that they expect to pay off from here and going forward. He would consider it to take an initial position or buy on a pull back.
food processing
PAST TOP PICK
PAST TOP PICK
December 16, 2019
(A Top Pick Mar 11/19, Down 4%) Auto sales for new cars are slightly down and this hurt the sentiment for the whole segment. He probably recommended it a little too early. Despite the difficult environment, sales were up and they took market share. 6.5 times earnings. It is quite inexpensive to own. There is talk that America 'peaked-out' in autos in 2016. The two car family is becoming less popular.
Show full opinionHide full opinion(A Top Pick Mar 11/19, Down 4%) Auto sales for new cars are slightly down and this hurt the sentiment for the whole segment. He probably recommended it a little too early. Despite the difficult environment, sales were up and they took market share. 6.5 times earnings. It is quite inexpensive to own. There is talk that America 'peaked-out' in autos in 2016. The two car family is becoming less popular.
transportation equip & components
PAST TOP PICK
PAST TOP PICK
December 16, 2019
(A Top Pick Mar 11/19, Up 39%) You have 20% growth on top and bottom lines next year and it is trading at 7.5 times earnings. He continues to like it.
Show full opinionHide full opinion(A Top Pick Mar 11/19, Up 39%) You have 20% growth on top and bottom lines next year and it is trading at 7.5 times earnings. He continues to like it.
Financial Services
PAST TOP PICK
PAST TOP PICK
December 16, 2019
(A Top Pick Mar 11/19, Down 25%) It is still a little early. Their balance sheet is quite pristine. A slight improvement in sentiment in the sector can cause the share price to jump up.
Show full opinionHide full opinion(A Top Pick Mar 11/19, Down 25%) It is still a little early. Their balance sheet is quite pristine. A slight improvement in sentiment in the sector can cause the share price to jump up.
oil/gas field services
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