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Stock Opinions by Jason Mann

COMMENT
The past year we've seen a shift from growth to value stocks, triggered by the first vaccine news last fall through March/April 2021. Since the spring, we've seen a rise in Delta which could delay the recover. The value rally is on pause. He'd buy cyclical stocks that will do well in an inflationary environment. He adopts a barbell strategy in case inflation (wage increases) last a little longer than expected, but remain temporary. Iron ore and potash are commodities worth buying. He's also looking for discretionary and tech growth stocks, but not the megacap techs in case we run into stagflation.
Unknown
WAIT
If they go private There is a bid to go private, but it's been dragging on for a while. DND stumbled with their recent UK acquisition, which may be a factor. The price will likely be above $50/share. DND has lagged its peers. He expects the deal to close, but wait for the big before deciding what to do with your shares.
0
BUY
It's not overvalued and he likes it here. ATD boasts valuation (cash flow, 17x PE, great balance sheet, fine ROE), price momentum with low volatility. However, they are running out of targets to sustain their growth. Overall, likes it.
food stores
BUY
A cyclical that'll benefit from an inflationary economy that'll extend longer. Good balance sheet. Had a recent pullback with all the cyclical stocks, but these stocks will do well. Good metrics: 27x ROI and 8x EBITDA. A solid balance sheet. A safe dividend at a low payout ratio.
non-base metal mining
COMMENT
They grow by acquisition, but haven't done one since 2020. Boyd is neither here nor there. It is not volatile, though. PE and EBITDA are pricey. Good balance sheet, though. He's neutral about this.
other services
BUY
Dollar Tree and DOL outlooks These stores did well during the lockdown. Soft share prices lately are due to return-to-work. DT is a little cheaper at 14x PE with a recent earnings beat and recently had an earnings beat. But DT has weak price momentum. DOL has outperformed, offers a good PE and had a good earnings beat. DOL has better price momentum. DOL isn't cheap at 30x PE, but it's okay; low volatility. Both stocks are similar overall.
Consumer Products
BUY
It's a volatile name, so don't be expected by recent volatility. Supplying dealerships is a problem in the near future, given the global--but temporary--chip shortage. ACQ has good price momentum and a high ROI. PE is 11x. They had a strong recent beat. However, their balance sheet is a little stretched.
specialty stores
DON'T BUY
It's had a spectacular run and boasts super price momentum, but its valuation and volatility score near the bottom. They have no earnings and no PE.
0
PAST TOP PICK
(A Top Pick Aug 12/20, Up 78%) They pay in divvies all their excess returns. Commodity prices like iron ore have gone through the roof since he bought LIF. Valuation and ROE remain strong. If iron ore prices hold, LIF will continue to do well. There's still upside here.
Financial Services
PAST TOP PICK
(A Top Pick Aug 12/20, Up 79%) Pattison tried to buy them last year. He bought this as shares went well, and has since rallied strongly. He bought this for the housing boom, but the lumber price surge surprised him. Recently, lumber prices have weakened, but lumber is still at near-historic highs. He expects lumber to rise again.
west coast forestry
PAST TOP PICK
(A Top Pick Aug 12/20, Up 79%) It benefits from the Oil Sands activity. The balance sheet is stressed. This works well in a deep-value recovery, but not so well in a tougher environment. He wouldn't buy it now.
0
WAIT
The superstar CEO with a great track record raised a pile of cash, but didn't do anything with it. He had a short position on this 6 months ago, and covered that recently. GUD has poor price momentum, though little volatility, and no real earnings. PE is high, though a strong balance sheet. This is a show-me story.
0
DON'T BUY
Why has this jumped in the past week? Reason: Sprott Uranium Physical Trust (U.UN-T which he owns) which buys spot uranium which Sprott recently took over and recently raised $300 million in an at-the-market offering in order to buy spot uranium. This is an illiquid market, so spot uranium is a self-fulfilling price move. Utilities will get caught short on this move. He doesn't like Cameco because it's expensive, volatile with spotty earnings. Balance sheet is fine, but missed its last quarter. The stock has moved up with the price of spot uranium. Watch the uranium move, which is in its early days, but he prefers U.UN itself.
integrated mines
BUY
CN and CP Don't chase CN now. There's a bidding war by CN and CP for KSU. KS is talking to CP and he expects CP to win the war. He prefers CP. He's short CP, because he's long KSU. CP looks good in terms of earnings.
Transportation
DON'T BUY
CP vs. CP Don't chase CN now. There's a bidding war by CN and CP for KSU. KS is talking to CP and he expects CP to win the war. He prefers CP. He's short CP, because he's long KSU. CP looks good in terms of earnings.
Transportation
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