Teal Linde
Member since: Feb '14
Portfolio Manager & Publisher, Linde Equity Report at
Linde Equity Report
Linde Equity Report
554 Opinions
Latest Top Picks
(A Top Pick Dec 10/18, Up 3%) He was saved by the dividend. It has not participated in the rally because it had a weak first half. They were all transitory issues. The main attraction is the Heartland Petrochemical Complex coming online in 2021. It should add 30% value to the company with no stock dilution expected.
(A Top Pick Dec 10/18, Up 14%) It was the only bank last quarter that released results and saw the stock go up. They had under-performed in the first quarter. This is one of his favourites of the Canadian banks.
(A Top Pick Dec 10/18, Up 16%) He has owned it for 6 years. It was growing 20% and trading at 15 times. Since then it has gone up about 7% a year but the earnings per share have gone up 17% per year. It is still expected to grow at 20% this year and next even though trading at 7 times earnings.
Growing 20% top and bottom line this year and next, at 7 times earnings it is too good to pass up. (Analysts’ price target is $52.91)
It is the fastest growing large cap he can find in the states. It is like SHOP-T, targeting the same sort of customers. Square is the point of sale device. If you missed SHOP-T, you can now go for SQ-N. It is trading at 8 times trailing revenues. (Analysts’ price target is $81.19)
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June 24, 2019
Market. He is seeing signs of froth in the market. Investors are probably happy with the year-to-date returns but there are more traps than there are opportunities as we get to half way through the year. Beyond Meat is trading at 90 times sales. Uber investors are subsidizing rides about 30% right now.
Market. He is seeing signs of froth in the market. Investors are probably happy with the year-to-date returns but there are more traps than there are opportunities as we get to half way through the year. Beyond Meat is trading at 90 times sales. Uber investors are subsidizing rides about 30% right now.
Teal Linde
Portfolio Manager & Publisher, Linde Equity Report, Linde Equity Report
WATCH
WATCH
June 24, 2019
Everything is $5 and below. If it pulls back or if it went sideways and earnings caught up to valuation it would be a buy. It is probably fully priced today. If it got down to 35 times earnings you would probably be okay.
Everything is $5 and below. If it pulls back or if it went sideways and earnings caught up to valuation it would be a buy. It is probably fully priced today. If it got down to 35 times earnings you would probably be okay.
specialty stores
BUY
BUY
June 24, 2019
They are getting involved with digital currency through a separate firm. Some people think it could be a long term opportunity. It is expected that next year their earnings and growth should track each other. He could see this one getting to over $200 in the next several months.
They are getting involved with digital currency through a separate firm. Some people think it could be a long term opportunity. It is expected that next year their earnings and growth should track each other. He could see this one getting to over $200 in the next several months.
COMMENT
COMMENT
June 24, 2019
They announced 50% revenue growth but then guided down to 33% revenue growth going forward. They are really a domestic play in China even though they go up and down with trade tensions between the US and China.
They announced 50% revenue growth but then guided down to 33% revenue growth going forward. They are really a domestic play in China even though they go up and down with trade tensions between the US and China.
HOLD
HOLD
June 24, 2019
They pulled back recently. They announced an acquisition in the UK which will allow them to have growth opportunities outside North America. There may be slower growth going forward in the US as most of the bus acquisitions by municipalities were based on 'The Fast Act' in the US which helped them fund buses after the 2008 recession.
They pulled back recently. They announced an acquisition in the UK which will allow them to have growth opportunities outside North America. There may be slower growth going forward in the US as most of the bus acquisitions by municipalities were based on 'The Fast Act' in the US which helped them fund buses after the 2008 recession.
Automotive
BUY
BUY
June 24, 2019
RY-T vs. BAC-N. They are both leaders in their respective countries. In a non-registered account, use RY-T. Also he would go with them because in the case of recession, they can lower their expenses. Their plan is to invest in IT when times are good and pull back investments when they are not. Going forward it will be who can tighten their belts the most, will do the best.
RY-T vs. BAC-N. They are both leaders in their respective countries. In a non-registered account, use RY-T. Also he would go with them because in the case of recession, they can lower their expenses. Their plan is to invest in IT when times are good and pull back investments when they are not. Going forward it will be who can tighten their belts the most, will do the best.
banks
HOLD
HOLD
June 24, 2019
RY-T vs. BAC-N. They are both leaders in their respective countries. In a non-registered account, use RY-T. Also he would go with them because in the case of recession, they can lower their expenses. Their plan is to invest in IT when times are good and pull back investments when they are not. Going forward it will be who can tighten their belts the most, will do the best.
RY-T vs. BAC-N. They are both leaders in their respective countries. In a non-registered account, use RY-T. Also he would go with them because in the case of recession, they can lower their expenses. Their plan is to invest in IT when times are good and pull back investments when they are not. Going forward it will be who can tighten their belts the most, will do the best.
banks
COMMENT
COMMENT
June 24, 2019
They are investing in Alpine Credit, who are doing well and who they are getting involved in for their own succession planning purposes. He would not consider AD-T low risk or defensive. They are medium to higher risk. Their valuation is not very related to where interest rates go.
They are investing in Alpine Credit, who are doing well and who they are getting involved in for their own succession planning purposes. He would not consider AD-T low risk or defensive. They are medium to higher risk. Their valuation is not very related to where interest rates go.
Financial Services
DON'T BUY
DON'T BUY
June 24, 2019
They have not allocated capital in the best interests of the shareholder. They are now undergoing a turnaround. There is a huge opportunity for content providers this year. TBRD-X is a company he would prefer to DHX-T. TBRD-X is very carefully with how they allocate capital.
They have not allocated capital in the best interests of the shareholder. They are now undergoing a turnaround. There is a huge opportunity for content providers this year. TBRD-X is a company he would prefer to DHX-T. TBRD-X is very carefully with how they allocate capital.
other services
PAST TOP PICK
PAST TOP PICK
June 24, 2019
(A Top Pick Dec 10/18, Up 3%) He was saved by the dividend. It has not participated in the rally because it had a weak first half. They were all transitory issues. The main attraction is the Heartland Petrochemical Complex coming online in 2021. It should add 30% value to the company with no stock dilution expected.
(A Top Pick Dec 10/18, Up 3%) He was saved by the dividend. It has not participated in the rally because it had a weak first half. They were all transitory issues. The main attraction is the Heartland Petrochemical Complex coming online in 2021. It should add 30% value to the company with no stock dilution expected.
oil pipelines
PAST TOP PICK
PAST TOP PICK
June 24, 2019
(A Top Pick Dec 10/18, Up 14%) It was the only bank last quarter that released results and saw the stock go up. They had under-performed in the first quarter. This is one of his favourites of the Canadian banks.
(A Top Pick Dec 10/18, Up 14%) It was the only bank last quarter that released results and saw the stock go up. They had under-performed in the first quarter. This is one of his favourites of the Canadian banks.
banks
PAST TOP PICK
PAST TOP PICK
June 24, 2019
(A Top Pick Dec 10/18, Up 16%) He has owned it for 6 years. It was growing 20% and trading at 15 times. Since then it has gone up about 7% a year but the earnings per share have gone up 17% per year. It is still expected to grow at 20% this year and next even though trading at 7 times earnings.
(A Top Pick Dec 10/18, Up 16%) He has owned it for 6 years. It was growing 20% and trading at 15 times. Since then it has gone up about 7% a year but the earnings per share have gone up 17% per year. It is still expected to grow at 20% this year and next even though trading at 7 times earnings.
Financial Services
BUY
BUY
June 24, 2019
The chances of being broken up depend on who wins the US federal election and even then it would be difficult. The revenue growth is slowing down to 17-18% but the profit margins are growing faster than revenues.
The chances of being broken up depend on who wins the US federal election and even then it would be difficult. The revenue growth is slowing down to 17-18% but the profit margins are growing faster than revenues.
specialty stores
DON'T BUY
DON'T BUY
June 24, 2019
He sold not so long ago after owning it 3 years. It always went 2 steps forward and 2 step back. It was too expensive. The consistency of the results just isn't there.
He sold not so long ago after owning it 3 years. It always went 2 steps forward and 2 step back. It was too expensive. The consistency of the results just isn't there.
INDUSTRIAL PRODUCTS
DON'T BUY
DON'T BUY
June 24, 2019
There used to be profit expectations but then they had the worst quarter at the beginning of this year. They have run out of the full tax credits in the US. There are a lot of other competing electric cars coming on the market and they get tax credits. The playing field is more level in Canada.
There used to be profit expectations but then they had the worst quarter at the beginning of this year. They have run out of the full tax credits in the US. There are a lot of other competing electric cars coming on the market and they get tax credits. The playing field is more level in Canada.
DON'T BUY
DON'T BUY
June 24, 2019
It is a defensive stock. They are spread out all over the place and they have a flat growth rate. You are buying it for the dividend. It is not worth holding it in a non-registered account. Canadian telecoms are actually still growing.
It is a defensive stock. They are spread out all over the place and they have a flat growth rate. You are buying it for the dividend. It is not worth holding it in a non-registered account. Canadian telecoms are actually still growing.
Telecommunications
WATCH
WATCH
June 24, 2019
It has had a big run. Deciding to take some profits depends on your portfolio. They have a five-year plan to quadruple their international revenue. Wait for a pull-back to buy.
It has had a big run. Deciding to take some profits depends on your portfolio. They have a five-year plan to quadruple their international revenue. Wait for a pull-back to buy.
household goods
COMMENT
COMMENT
June 24, 2019
Their on-line offering will not be threatened by AMZN-Q's grocery delivery.
Their on-line offering will not be threatened by AMZN-Q's grocery delivery.
food stores
HOLD
HOLD
June 24, 2019
People consider it to be very cheap. You aren’t getting per share growth because debt pay down is their priority. You need a rally in the commodity price. They will muddle along with their peers.
People consider it to be very cheap. You aren’t getting per share growth because debt pay down is their priority. You need a rally in the commodity price. They will muddle along with their peers.
oil/gas
WATCH
WATCH
June 24, 2019
It has struggled since IPO. They are now optimizing their stores. They have had a hard time growing their profits. He would wait until they start to show some profit growth.
It has struggled since IPO. They are now optimizing their stores. They have had a hard time growing their profits. He would wait until they start to show some profit growth.
food services
DON'T BUY
DON'T BUY
June 24, 2019
The future for them is focusing on their rec-room. Their menu boards have expanded into subway in the US. They are growing there. He has always thought the stock was overpriced because investors were chasing yield. After a weak first quarter, numbers were not that great. They pay out a lot of their cash flow. The movie theatre industry is not dead.
The future for them is focusing on their rec-room. Their menu boards have expanded into subway in the US. They are growing there. He has always thought the stock was overpriced because investors were chasing yield. After a weak first quarter, numbers were not that great. They pay out a lot of their cash flow. The movie theatre industry is not dead.
other services
TOP PICK
TOP PICK
June 24, 2019
Growing 20% top and bottom line this year and next, at 7 times earnings it is too good to pass up. (Analysts’ price target is $52.91)
Growing 20% top and bottom line this year and next, at 7 times earnings it is too good to pass up. (Analysts’ price target is $52.91)
Financial Services
TOP PICK
TOP PICK
June 24, 2019
TOP PICK
TOP PICK
June 24, 2019
This is a company that is investing for growth. This is the year when a number of years of planning and building come on line. Their two projects will increase net income by 50%. (Analysts’ price target is $2.10)
This is a company that is investing for growth. This is the year when a number of years of planning and building come on line. Their two projects will increase net income by 50%. (Analysts’ price target is $2.10)
COMMENT
COMMENT
May 21, 2019
What's market telling you right now? It's decently positioned. Canadian market hasn't gone up a lot over the last 5 years. So Canada has more upside than the US, because of valuations. In the current decade, energy and materials represent only 25% of the TSX, a decrease. TSX is neglected among the world indices. Valuations are very attractive. Since 2010, S&P has done 3x better than the Canadian side. Financials are the biggest sector, but are still trading at lower valuations than the norm. International investors have turned their backs on Canada in energy. So this is an opportunity.
What's market telling you right now? It's decently positioned. Canadian market hasn't gone up a lot over the last 5 years. So Canada has more upside than the US, because of valuations. In the current decade, energy and materials represent only 25% of the TSX, a decrease. TSX is neglected among the world indices. Valuations are very attractive. Since 2010, S&P has done 3x better than the Canadian side. Financials are the biggest sector, but are still trading at lower valuations than the norm. International investors have turned their backs on Canada in energy. So this is an opportunity.
Teal Linde
Portfolio Manager & Publisher, Linde Equity Report, Linde Equity Report
WAIT
WAIT
May 21, 2019
Has had a big run this year, because of less competition due to a merger. Plus, acquisitions this year have investors excited. Not the time to buy now. There's room to keep growing. It's a growing industry, as more technology is impacted with each fender bender. Insurance companies want to deal with companies that have more scale, which also benefits them.
Has had a big run this year, because of less competition due to a merger. Plus, acquisitions this year have investors excited. Not the time to buy now. There's room to keep growing. It's a growing industry, as more technology is impacted with each fender bender. Insurance companies want to deal with companies that have more scale, which also benefits them.
other services
DON'T BUY
DON'T BUY
May 21, 2019
Stay away. Have announced a 230B capital expenditure plan. Plans to grow production over 19 years have not panned out. Bought back a lot of stock and dividends have grown. He'd look to buy an oil company in Canada instead. Or even Encana, where 60% of production is in the States.
Stay away. Have announced a 230B capital expenditure plan. Plans to grow production over 19 years have not panned out. Bought back a lot of stock and dividends have grown. He'd look to buy an oil company in Canada instead. Or even Encana, where 60% of production is in the States.
integrated oils
BUY WEAKNESS
BUY WEAKNESS
May 21, 2019
Has a 5 year plan to double the size of the company. Including increasing fresh food offerings, taken from the successful European model. Cigarette and gasoline sales are under pressure. Has run up a lot, so wait for a pullback.
Has a 5 year plan to double the size of the company. Including increasing fresh food offerings, taken from the successful European model. Cigarette and gasoline sales are under pressure. Has run up a lot, so wait for a pullback.
food stores
COMMENT
COMMENT
May 21, 2019
SHOP, Canadian vs. US. Can't explain why one is up and one is down, unless it was the recent holidays.
SHOP, Canadian vs. US. Can't explain why one is up and one is down, unless it was the recent holidays.
COMMENT
COMMENT
May 21, 2019
SHOP, US vs. Canadian. Can't explain why one is up and one is down, unless it was the recent holidays.
SHOP, US vs. Canadian. Can't explain why one is up and one is down, unless it was the recent holidays.
COMMENT
COMMENT
May 21, 2019
Still migrating toward services, which have much higher profit margins. iPhone sales expected to drop about 10%, so the stock will probably move sideways this year. Service revenue is also more consistent. Long-term upside. Apple and Samsung really have the market cornered because of US restrictions on phones from China.
Still migrating toward services, which have much higher profit margins. iPhone sales expected to drop about 10%, so the stock will probably move sideways this year. Service revenue is also more consistent. Long-term upside. Apple and Samsung really have the market cornered because of US restrictions on phones from China.
electrical/electronic
DON'T BUY
DON'T BUY
May 21, 2019
Hype never lasts for ever, just as great fear doesn't. Stock is up 3x since IPO. Stock has increased likelihood of falling back. A product that can be replicated by others. They're focusing on their brand, and we'll have to see if this works out. The company will continue to do well, but the company and the stock are detached.
Hype never lasts for ever, just as great fear doesn't. Stock is up 3x since IPO. Stock has increased likelihood of falling back. A product that can be replicated by others. They're focusing on their brand, and we'll have to see if this works out. The company will continue to do well, but the company and the stock are detached.
HOLD
HOLD
May 21, 2019
It's a hold. Interest rate sensitives have done well. Line 3 pushed back is an issue. Dividend may need to be cut back a bit. Existing pipelines have become more valuable. Moving from fee-based to take or pay, so this increases value for shareholders.
It's a hold. Interest rate sensitives have done well. Line 3 pushed back is an issue. Dividend may need to be cut back a bit. Existing pipelines have become more valuable. Moving from fee-based to take or pay, so this increases value for shareholders.
oil/gas pipelines
BUY
BUY
May 21, 2019
Fabulous company. Grown dividend 17 years in a row. Natural decline rate is about 12%, extremely low. If you had to buy one Canadian oil and gas and hold it for 5 years, this is the one. Better, and more diversified, than Suncor. Management has tremendous track record. Good long-term hold.
Fabulous company. Grown dividend 17 years in a row. Natural decline rate is about 12%, extremely low. If you had to buy one Canadian oil and gas and hold it for 5 years, this is the one. Better, and more diversified, than Suncor. Management has tremendous track record. Good long-term hold.
oil/gas
PAST TOP PICK
PAST TOP PICK
May 21, 2019
(A Top Pick May 28/18, Down 0.1%) Has recovered a lot this year. Most recent quarter was simple and clean. What's holding the stock back this year are the huge capital expenditures. By the end of this year, revenue and EPS should grow. "Checkout" system represents a more seamless interaction from Instagram.
(A Top Pick May 28/18, Down 0.1%) Has recovered a lot this year. Most recent quarter was simple and clean. What's holding the stock back this year are the huge capital expenditures. By the end of this year, revenue and EPS should grow. "Checkout" system represents a more seamless interaction from Instagram.
PAST TOP PICK
PAST TOP PICK
May 21, 2019
(A Top Pick May 28/18, Down 18%) Has come back from last year. Revenues are up 51%, but 33% going forward. Still good, since valuation is 30x earnings. BABA doesn't have the scale of Amazon yet. So you can see the profit potential once they get to scale.
(A Top Pick May 28/18, Down 18%) Has come back from last year. Revenues are up 51%, but 33% going forward. Still good, since valuation is 30x earnings. BABA doesn't have the scale of Amazon yet. So you can see the profit potential once they get to scale.
PAST TOP PICK
PAST TOP PICK
May 21, 2019
(A Top Pick May 28/18, Up 23%) Held up better than other stocks did last November. Have increased auto insurance in last 3 quarters. Home and commercial premiums have gone up. Top line and bottom growth.
(A Top Pick May 28/18, Up 23%) Held up better than other stocks did last November. Have increased auto insurance in last 3 quarters. Home and commercial premiums have gone up. Top line and bottom growth.
insurance
WAIT
WAIT
May 21, 2019
Came off, but has come back up. His question is when to buy? It's actually succeeding in the US. Well positioned between affordable luxury and fast fashion. Traffic is impressive. They've never had to close a store in 35 years due to failure. 20 consecutive years of increasing revenues. He's waiting for a stumble as an opportunity to buy.
Came off, but has come back up. His question is when to buy? It's actually succeeding in the US. Well positioned between affordable luxury and fast fashion. Traffic is impressive. They've never had to close a store in 35 years due to failure. 20 consecutive years of increasing revenues. He's waiting for a stumble as an opportunity to buy.
Golds
WATCH
WATCH
May 21, 2019
Focusing on the connected car. Challenge of trying to replace the great legacy product of their successful phone. It's the right sector, as it's a huge industry, but it's early stages. Revenues have to catch up to valuations. A lot of upside if they succeed. Tech acquisitions are notorious for failure, so you have to be cautious about that.
Focusing on the connected car. Challenge of trying to replace the great legacy product of their successful phone. It's the right sector, as it's a huge industry, but it's early stages. Revenues have to catch up to valuations. A lot of upside if they succeed. Tech acquisitions are notorious for failure, so you have to be cautious about that.
electrical/electronic
BUY
BUY
May 21, 2019
Though near its all-time high, you could still open a position today. Most recent quarter they reaffirmed dividend growth rate of 7-10% for next 3 years. Payout ratio is expected to go down. Free cash flow is expected to double over the next 3 years. The stock probably has some upside.
Though near its all-time high, you could still open a position today. Most recent quarter they reaffirmed dividend growth rate of 7-10% for next 3 years. Payout ratio is expected to go down. Free cash flow is expected to double over the next 3 years. The stock probably has some upside.
telephone utilities
DON'T BUY
DON'T BUY
May 21, 2019
Wouldn't be buying. Lumpy business, because when you get that large, it's hard to keep moving the needle. Engineering consulting is tough. NVEE, a US company, is in his portfolio. NV5 Global does growth by acquisition, no overseas risk. NVEE stock's a bit volatile, because of a recent accounting scare.
Wouldn't be buying. Lumpy business, because when you get that large, it's hard to keep moving the needle. Engineering consulting is tough. NVEE, a US company, is in his portfolio. NV5 Global does growth by acquisition, no overseas risk. NVEE stock's a bit volatile, because of a recent accounting scare.
contractors
BUY
BUY
May 21, 2019
A small US company in his portfolio. Does growth by acquisition, so no overseas risk. Stock's a bit volatile, because of a recent accounting scare.
A small US company in his portfolio. Does growth by acquisition, so no overseas risk. Stock's a bit volatile, because of a recent accounting scare.
BUY
BUY
May 21, 2019
Top choice for a utility stock in Canada. Skilled at making acquisitions. Longest run, with Canadian Utilities, of raising dividends for over 40 consecutive years. Safe and steady, though upside may not be as high as some others. As long as you're prepared to hold for the long term. Yield is 3.6%.
Top choice for a utility stock in Canada. Skilled at making acquisitions. Longest run, with Canadian Utilities, of raising dividends for over 40 consecutive years. Safe and steady, though upside may not be as high as some others. As long as you're prepared to hold for the long term. Yield is 3.6%.
electrical utilities
COMMENT
COMMENT
May 21, 2019
Has come off a fair bit. One factor could be that US federal government helps pay for municipal buses, and this expires in 2020. So long-term funding is in question. Stock got ahead of itself in the last couple of years, so now it's normalizing.
Has come off a fair bit. One factor could be that US federal government helps pay for municipal buses, and this expires in 2020. So long-term funding is in question. Stock got ahead of itself in the last couple of years, so now it's normalizing.
Automotive
BUY
BUY
May 21, 2019
Forest stocks have really been taking a hit. You could probably open a position today, as sentiment and last couple of quarters have been negative. Indications that US lumber pricing and new home construction are starting to pick up. Lumber is at trough prices, so that's usually a good time to get in.
Forest stocks have really been taking a hit. You could probably open a position today, as sentiment and last couple of quarters have been negative. Indications that US lumber pricing and new home construction are starting to pick up. Lumber is at trough prices, so that's usually a good time to get in.
west coast forestry
TOP PICK
TOP PICK
May 21, 2019
Price is discounting a large recession. Trading at 5x 2019 expected earnings. Revenues and earnings are still expected to be positive this year. Also in aerial lifts and agriculture. More diversified than Magna. Yield is 1.06%. (Analysts’ price target is $61.50)
Price is discounting a large recession. Trading at 5x 2019 expected earnings. Revenues and earnings are still expected to be positive this year. Also in aerial lifts and agriculture. More diversified than Magna. Yield is 1.06%. (Analysts’ price target is $61.50)
transportation equip & components