Latest Expert Opinions

Signal
Opinion
Expert
BUY
BUY
September 16, 2013

Very good Q3 results. Should continue to grow earnings in the high single digits over the next few years. There is also dividend growth. Extremely well run. Their long-term growth target is to increase earnings 10% a year. He can see 7%-8% earnings growth plus dividend growth.

Very good Q3 results. Should continue to grow earnings in the high single digits over the next few years. There is also dividend growth. Extremely well run. Their long-term growth target is to increase earnings 10% a year. He can see 7%-8% earnings growth plus dividend growth.

Nick Majendie
Director & Senior Portfolio Manager, Scotia Wealth Management
Price
$84.600
Owned
Yes
HOLD
HOLD
September 16, 2013

Likes this one very much on a longer-term basis. Feels there is double digit dividend growth ahead of it on a 3-5 year timeframe. In the short term, the multiple is quite elevated, 22-23 times area. He would prefer it under 20X earnings.

Enbridge (ENB-T)
September 16, 2013

Likes this one very much on a longer-term basis. Feels there is double digit dividend growth ahead of it on a 3-5 year timeframe. In the short term, the multiple is quite elevated, 22-23 times area. He would prefer it under 20X earnings.

Nick Majendie
Director & Senior Portfolio Manager, Scotia Wealth Management
Price
$42.560
Owned
Yes
DON'T BUY
DON'T BUY
September 16, 2013

There is going to be a change in leadership and they are currently undertaking a review. A lot of uncertainty about the future direction. Until they tell the street exactly where they are going to be going, they will be concentrating more on liquids rich areas. However, the company has not been covering its dividend out of cash flow for a significant period of time. There is no likelihood of a dividend increase and a definite risk of a dividend cut.

Encana Corp (ECA-T)
September 16, 2013

There is going to be a change in leadership and they are currently undertaking a review. A lot of uncertainty about the future direction. Until they tell the street exactly where they are going to be going, they will be concentrating more on liquids rich areas. However, the company has not been covering its dividend out of cash flow for a significant period of time. There is no likelihood of a dividend increase and a definite risk of a dividend cut.

Nick Majendie
Director & Senior Portfolio Manager, Scotia Wealth Management
Price
$18.290
Owned
Unknown
BUY
BUY
September 16, 2013

Had the 1st test flight of their C series today. Over the next while, you are quite likely to see an increase in orders, as people have been sitting on the fence waiting. In the meantime, they have had success in other parts of the aircraft division as well as several good additions to the backlog of the transportation end. Thinks there could be significant upside over the next year.

Bombardier Inc (B) (BBD.B-T)
September 16, 2013

Had the 1st test flight of their C series today. Over the next while, you are quite likely to see an increase in orders, as people have been sitting on the fence waiting. In the meantime, they have had success in other parts of the aircraft division as well as several good additions to the backlog of the transportation end. Thinks there could be significant upside over the next year.

Nick Majendie
Director & Senior Portfolio Manager, Scotia Wealth Management
Price
$5.020
Owned
Yes
TOP PICK
TOP PICK
September 16, 2013

Excellent growth profile over the next number of years. Could be expanding by as much is $3.5 billion in terms of their capital program and are very confident they will be able to increase earnings substantially with that. Because of this, they increased the dividend earlier than he had expected. Should be able to increase their dividend by 3%-5% a year over the next 3-5 years. Has a target of $36 over the next year but can grow well beyond that in the next 3 years. Yield of 5.2%.

Pembina Pipeline Corp (PPL-T)
September 16, 2013

Excellent growth profile over the next number of years. Could be expanding by as much is $3.5 billion in terms of their capital program and are very confident they will be able to increase earnings substantially with that. Because of this, they increased the dividend earlier than he had expected. Should be able to increase their dividend by 3%-5% a year over the next 3-5 years. Has a target of $36 over the next year but can grow well beyond that in the next 3 years. Yield of 5.2%.

Nick Majendie
Director & Senior Portfolio Manager, Scotia Wealth Management
Price
$32.350
Owned
Yes
BUY
BUY
September 16, 2013

Under some pressure recently. Anticipated that the revenues will grow in the area of $1 billion in the next 5 years in the service sector of their business with some of it being in the mining area. They are less and less dependent on selling equipment to miners in South America or to the oil sands. Very good value in the low $20 area. 2.73% dividend yield.

Finning Int (FTT-T)
September 16, 2013

Under some pressure recently. Anticipated that the revenues will grow in the area of $1 billion in the next 5 years in the service sector of their business with some of it being in the mining area. They are less and less dependent on selling equipment to miners in South America or to the oil sands. Very good value in the low $20 area. 2.73% dividend yield.

Nick Majendie
Director & Senior Portfolio Manager, Scotia Wealth Management
Price
$22.330
Owned
Yes
PAST TOP PICK
PAST TOP PICK
September 16, 2013

(A Top Pick April 23/12. Down 11.43%.) Sold his holdings in late 2012 at over $50 and bought some back this summer.

Agnico-Eagle Mines (AEM-T)
September 16, 2013

(A Top Pick April 23/12. Down 11.43%.) Sold his holdings in late 2012 at over $50 and bought some back this summer.

Nick Majendie
Director & Senior Portfolio Manager, Scotia Wealth Management
Price
$27.570
Owned
Yes