BUY
Hard to get excited . Feels they are coming to a break even on earnings. Costs are coming down and revenues are starting to rise. Thinks that earnings are starting to accelerate. Likes on a valuation basis relative to sales and expected earnings. Starting to buy.
BUY
His favourites among the banks. Valuation is in the middle of the range. Starting to get some decent earnings leverage. Still has the US discount electronic brokerage business which has some corporate activity going on. Likes the moves management has made.
WEAK BUY
Has had a tremendous move in the past year. Potash prices are remaining strong. Pretty good earnings picture. At a reasonable valuation. Doesn't see big upside in the short term.
BUY
Cheap. Part of this is due to its Cuban discount, but part of it is because of the commodities they are in.
WEAK BUY
Not a bad play if you are bullish on oil. Have their fingers in a few pies in terms of refining, downstream, the oil sands project. Not as much growth as there is in some of the others, but decent cash generation.
BUY
Sold off some European assets and there was speculation that it would become a trust. Price rose on the news and then fell off due to the assets going for less than the market expected. Once the assets are sold and the Canadian assets are trusted, you could be looking at the high $50's.
DON'T BUY
For this year and next they are going to have tremendous cash flow. Coal prices are trading around $120 a ton. His sense is that coal prices can come back to maybe the $60/80 range.
DON'T BUY
Not a huge fan of this company. Thinks the bottom has been hit for aerospace for awhile. Still some risk on the regional jet market. Have their work cut out for them in restructuring and getting the cost structure down. A lot of this is starting to be reflected in the stock and it may go back to test the lows again.
HOLD
Aluminum prices are at a peak and as the global economy slows down earnings are going to start to come down. Has really underperformed the group.
TOP PICK
(A Top Pick Apr 6/05. Up 17%.) Looking for non-cyclical earnings where there's some cash generation. Wireless is a 3 player market and these guys are in the sweet spot there. Cable is doing exceptionally well.
PAST TOP PICK
(A Top Pick Apr 6/05. Up 1%.) Less positive in the short term because of the lawsuit problems.
TOP PICK
(A Top Pick Apr 6/05. Down a bit.) Last quarter they had a miss relative to expectations. When the pieces of this are added up, such as CSI, specialty broadcasts, etc. it is easily $40. Consolidation is coming in the sector and this company is more a target than a buyer.
WEAK BUY
Financially in fine shape. The only issue is do you really want to pay 17/18 X earnings for 5/6/7% earnings growth. Somewhat expensive. OK for a conservative investor looking for a decent yield.
BUY
Looks like it's ready to break out. On the technical side it is looking awfully good. Have restructured their costs.
DON'T BUY
It has had such a huge move in the past couple of years. Has been selling a bit of his holdings. Still feels that uranium will go higher, but it's starting to get to a point where you're already paying $35.40 uranium prices in the stock today.