Latest Stock Buy or Sell? Make More Informed Decisions!
Today, Ben Cheng and Lyle Stein commented about whether MGO.TO, SEA.TO, MSD.TO, FTS.TO, G.TO, FRU.TO, CNR.TO, ABX.TO, BBD.B.TO, BNS.TO, BCE.TO, XRB.TO, SJR.B.TO, MFC.TO, RUS.TO, BB.TO, CGX.TO, Y.TO, BNP.TO, ARX.TO, VSN.TO, AP.UN.TO, DAY.TO, IPL.TO, WTE.TO, JE.TO are stocks to buy or sell.
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N/A
Thinks the Precision Drilling conversion to a corporation makes a lot of sense. The drillers had a little experiment in converting to the income trust structure and done simply for a multiple premium, but in the longer run it makes a lot more sense for them to be a common share format. Change to an income trust was the right thing to do at the time. Bond spreads have really widened out in the last little bit, but he has migrated half of the bonds over to bank loans.
BUY
The company is doing the right thing to convert to the common share format before the December 31 deadline. Their competitors, especially in the US have fallen on hard times and as such you should see much better growth, especially out of their US division. Distribution is sustainable, but he thinks a cut would be appropriate, but not a negative.
Ben ChengOwned
Utilities
BUY
H & R REIT Bond – 7 Years. They do a good job of matching the assets to the bonds. The tenants in their buildings are long-term tenants. He wouldn’t recommend a bond from a hotel REIT because the tenancy is for over night.
Ben ChengOwned
BUY
Good quality infrastructure play. Should gut the distribution 30-40% during conversion.
Ben ChengOwned
INDUSTRIAL PRODUCTS
BUY
There is some inherent, stable growth. It is external management but there are clauses to protect investors.
Ben ChengOwned
oil pipelines
BUY
TOP PICK
It remains run by one of the smartest management teams out there. They have great properties. It’s an unconventional gas play. An above average growth pattern. Commodity prices are the biggest risk.
Ben ChengOwned
oilgas
TOP PICK
Solid management team. Very, very good set of assets. Above average growth trajectory. They are getting involved with unconventional plays, which is a risk.
Ben ChengOwned
oilgas
TOP PICK
He likes it when the analysts collectively hate something. It is a simple business that is tied to the growth of our economy. As the Canadian economy does better, this stock will benefit. Online business is being ignored too much and it is growing at 20%. Yield will be cut when they convert. Distribution will drop to $0.65 and the extra capital will be used to pay down debt.
Ben ChengOwned
communicationsmedia
PAST TOP PICK
PAST TOP PICK
N/A
Markets haven’t really done anything for 5 months. They are trying to find the direction. It’s a pretty flat market. You want to sift through the good from the bad. Growth will continue. The fix to the financial crisis is in. Rising interest rates will set the course for the markets. He looks for companies that can consistently grow their dividends. Look for companies that take the capital in the business and then keep re-investing it.
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