Opinions by Kash Pashootan | StockChase
606
Kash Pashootan

Sr. VP & Portfolio Manager

ON STOCKCHASE SINCE Jan 2015

First Avenue Advisory, Raymond James


Opinions by Kash Pashootan



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2017-11-01

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

Percentage of US investments if living in the US for 1 month a year? He is two thirds US$ and one third Canadian, and has been that way since January 2012. In Canada, if you take commodities and financials out of the equation, there isn't very much to choose from. You should be aware that when you receive dividends from American companies, they are not subject to the Canadian dividend tax credit, so you should get some tax advice on that. Regarding Canadian banks and the growth potential, he would prefer US banks if you are looking for share price appreciation, but the Canadian banks for the yield. He owns both in his portfolio.

Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $0.020
Owned: _N/A

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2017-11-01

PAST TOP PICK
Apple (AAPL-Q)

(A Top Pick June 22/16. Up 79%.) A year ago, everyone was convinced the company was not going to be able to come up with anything innovative anymore. Apple today is a very different business than it was 8 years ago. If you are expecting it to behave the same way that it was, it is not the same business. They have a lot of cash. Sold it because of how much it appreciated. It became a little expensive. He would like to buy back in as some point.

electrical/electronic
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $166.890
Owned: No

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2017-11-01

BUY
Algonquin Power & Utilities Corp (AQN-T)

This has done well, and likes how it is positioned for growth going forward. Has a fairly even split in how they generate revenue between the power generation and the distribution. We are seeing growth on both sides. On the generation side, there is lots of transparency in terms of cash flows. On the distribution side, they made the large acquisition of Empire, which has put on a lot of new clients for them. Although you have to be careful of interest sensitives, this company does have the positioning to continue to grow. Dividend yield of about 4.25%. He is still buying this for new clients.

electrical utilities
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $13.750
Owned: Yes

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2017-11-01

DON'T BUY
Bombardier Inc (B) (BBD.B-T)

Has nothing but negative things to say about this. If you are a trader, you can probably make money but if you are a longer-term investor, it is difficult to look at this company and build a case as to why, as a business, they are going to grow. This is a business that would not exist if the government were not giving them large financial handouts. There isn't any clear path as to how this company is going to grow.

transportation equip & components
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $2.780
Owned: No

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2017-11-01

BUY
Canadian Imperial Bank of Commerce (CM-T)

This is right up there with the cheapest in Canadian banks. There are some questions or a “wait and see” on their US acquisition and how it rolls out. If you have a longer-term time horizon, these are the opportunities that you can look back on and be thankful for. You are getting paid while you wait, and are buying it at a great valuation.

banks
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $113.560
Owned: Unknown

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2017-11-01

PAST TOP PICK
Columbia Banking System Inc (COLB-Q)

(A Top Pick June 22/16. Up 62%.) Has liked this name for a few years. If you want to play the US consumer, regional banks are the way to do it. The issue is, there are so many regional banks.

banks
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $44.160
Owned: Yes

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2017-11-01

SELL
Crescent Point Energy Corp (CPG-T)

Has had a bit of a pop recently, but that directly correlates with oil prices. Oil is not in a rush to get to $70-$80 anytime soon. Based on that, he would be selling this and moving on.

oil/gas
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $10.520
Owned: No

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2017-11-01

COMMENT
EnerCare Inc (ECI-T)

He likes this company, but doesn't own it. It has become too expensive. They took their sub metering business and improved it. Even on their hot water tanks and servicing side, they have turned from selling units to renting them, which is help their recurring revenues and provided a residual income stream. In 2013 that business was about 11%, and is now about 69%. Trading at around 33X. Would prefer Algonquin Power (AQN-T), which is a similar business. Dividend yield of 4.8%.

Consumer Products
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $19.940
Owned: No

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2017-11-01

TOP PICK
Emera Inc (EMA-T)

A defensive play. You have to be very careful on interest sensitive names, from a management portfolio perspective. This has the growth positioning to offset some of the interest sensitivity. He likes their dividend growth commitment of 8%-10% per year, which is reasonable and realistic. With their last acquisition, they are generating a large percentage of their revenue in the US. Dividend yield of 4.7%. (Analysts' Price target is $52.50.)

mngmnt/diversified
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $48.140
Owned: Yes

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2017-11-01

DON'T BUY
General Electric (GE-N)

He would stay away from this at this time. Think of it as the Titanic trying to turn like a speedboat. A mega company that is making major, major changes, especially in terms of selling assets and acquiring businesses. A couple of years ago, they sold off $70 billion of their GE capital assets. That allowed them to give up their banking charter and lower their capital requirements. Throughout all this, they did the largest acquisition in history, which they are still trying to digest. There are a lot of integration risks.

electrical/electronic
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $20.020
Owned: No

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2017-11-01

DON'T BUY
Home Capital Group (HCG-T)

You have to ask yourself why you are buying this. Is it for the yield or share price appreciation? If the yield, there are a lot of other places where you could get a similar yield, or even a better one. On share price appreciation, there is a lot of risk. If you are okay with the speculative nature, then maybe take a half position and hope to strike it right before things turn around. There are still lots of questions on this stock in terms of the business itself. Also, they are in a sector that is feeling pressure from rising interest rates, high household levels of debt. He wouldn't be a buyer. Keep it boring and get a lot of safety at the same time by looking at Canadian banks, or even the US banks.

investment companies/funds
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $13.830
Owned: Unknown

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2017-11-01

PAST TOP PICK
Magna Int'l. (A) (MG-T)

(A Top Pick June 22/16. Up 46%.) This was a valuation play, as last year many thought that everyone was going to stop driving. It is no longer undervalued. Pays a reasonable dividend, and is still not expensive, so he is still buying it.

Automotive
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $70.930
Owned: Yes

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2017-11-01

TOP PICK
New Flyer Industries Inc. (NFI-T)

Hard to find deep value, so some names in his portfolio are going to be more of a "growth at a reasonable price", which is what this company is. Increasing infrastructure spending and aging urban bus fleets, means more contracts. Not cheap, but he likes the growth trajectory. They are in bus manufacturing and parts distributing, and have a healthy exposure in the US. Dividend yield of 2.4%. (Analysts' Price target is $62.00.)

income trust
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $54.830
Owned: Yes

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2017-11-01

DON'T BUY
PepsiCo (PEP-N)

The PepsiCo (PEP-N) Coca-Cola (KO-N) Rivalry never seems to end. Of the 2, he would prefer PepsiCo, but doesn't own either. It has done a better job of diversifying away from the reliance on carbonated soft drinks. Today, more than 50% of their revenues come from noncarbonated drinks. There is still a lot of uncertainty as to what this kind of business looks like 5 years from now. He would not be a buyer at this time.

food processing
Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $110.130
Owned: No

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2017-11-01

TOP PICK
Ruth's Hospitality Group (RUTH-Q)

A steakhouse group. The name of the game here is all about execution. This has been around for a long time, but only have 160 locations. Low debt and strong cash flows means they are well positioned for store growth. Have not tried to grow the fastest, allowing them to give shareholders a nice mix of high return on investments and stable cash flows. Have done a great job of reinvesting in the brand and remaining relevant. Has a history of raising their dividend, 25% last year. Dividend yield of 1.7%. (Analysts' Price target is $21.50.)

Kash Pashootan

Sr. VP & Portfolio Manager, First Avenue Advisory, Raymond James

Price: $20.500
Owned: Yes

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