Michael Sprung
Member since: Oct '00
President at
Sprung Investment Management

Latest Top Picks

(A Top Pick Jan 15/19, Up 6%) Most of the return was from the dividend. He thinks the Canadian banks are better valued than US counterparts. Provisions for loans losses and software development write downs resulted in a $175 million earnings report recently. He would make this one of his most favoured Canadian banks -- trading at 1.4 times book and a near 5% yield. It has the most potential for capital appreciation going forward.
(A Top Pick Jan 15/19, Down 25%) He thinks it is extremely well managed. He believes the dividend will be maintained unless commodity prices fall dramatically. Of all the energy companies in Canada it is likely the most internationally diversified. He thinks the price is already taking into account a dividend cut. He will continue to hold it.
(A Top Pick Jan 15/19, Up 32%) Pipelines are a good place to be right now, especially with constraints on pipelines. They have also been able to increase tariff rates. Still one of his favorites. Yield 4.4%
It hit a 52 week high yesterday. There is potential for a resolution for some of their long term holdings. They are growing in Asia, where there are higher margins. It trades at a sizable valuation discount to its peers in the space. Yield 3.63% (Analysts’ price target is $30.33)
It does not hurt to have a major integrated player. There will be some noise going forward as they have had some unplanned outages. Their production forecasts are a little lower than analysts expected and their capex requirements were a bit higher. A solid company that generates significant free cash flow -- they hope to increase that by $2 billion. The most broadly owned energy stock in Canada. Yield 3.8% (Analysts’ price target is $49.64)