BUY
A good company. Management is focused on realising value. Have increased the dividend. If the tax rules do not change, they have indicated they will convert to a trust. If they do, there is another 10% upside at least.
DON'T BUY
Had 14 years in a row of increased sales and increased earnings and earnings per share. In 2005 they had a decrease in the earnings. No longer a growth company. More reasonably valued now but wouldn't buy it. Competition will grow.
DON'T BUY
A higher risk stock. What they have is in North Africa and the mid East. They have gas which is not behind a pipeline so they can’t move it out. They need liquid natural gas plants. A long-term higher risk story.
BUY
Good company. Solid yield. Have some growth prospects from expanding nuclear plants that they own. Interest sensitive, so has been sold off in the last little while.
BUY
Broadly diversified. Excellent balance sheet. A solid company which will be driven by the price of oil.
BUY
A long-term story. Giving their balance sheet into a point where they are going to have to make a dramatic increase in the distributions by the end of the year.
TOP PICK
(A Top Pick Aug 11/05. Up 14%.) Feels there is further upside. 1/3 heavy oil, 1/3 natural gas and 1/3 light oil. Likes their Horizon heavy oil project.
HOLD
Almost fully valued when you compute the value of the assets that they own.
BUY
It is about a multiple point cheaper than Manufactures Life (MFC-T). Has had some troubles in the US but it owns a piece of CI (CIX-T) and will benefit if CI realises the value.
BUY
A solid company. One of the biggest now. A more conservative company. Not a bad one to own if you like conservative companies.
BUY
Prefers Trans Canada (TRP-T) which has a better earnings profile but there's nothing wrong with this company. A stable yield.
BUY
One of the more stable banks. Has been under performing of late. The last quarter was a little weaker.
WEAK BUY
Likes the rail story. Prefers Canadian Pacific (CP-T) as it is trading cheaper and has a higher cost structure giving it the opportunity to reduce costs even more.
BUY
Likes the rail story. Prefers over Canadian National (CNR-T) as it trades cheaper. Has a higher cost structure giving it the opportunity to reduce costs even more.
TOP PICK
Good value. Yield of 6%. At the end of a year or two, it could become a trust. They bought Allstream to forestall being pushed towards a trust. They are starting to work their way through the losses in Allstream.