Latest Expert Opinions

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Expert
DON'T BUY
DON'T BUY
July 28, 2014

Even though it is selling at a low price, he has no plans on owning this. The disappointment in the C series makes you question whether there have been too many delays, is it too late and are other competitors producing now so that the C series is not going to achieve the level of success that they had hoped for. On the mass transit side, margins are going to be under pressure. Feels this could stay at low levels for some period of time.

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Even though it is selling at a low price, he has no plans on owning this. The disappointment in the C series makes you question whether there have been too many delays, is it too late and are other competitors producing now so that the C series is not going to achieve the level of success that they had hoped for. On the mass transit side, margins are going to be under pressure. Feels this could stay at low levels for some period of time.

DON'T BUY
DON'T BUY
July 28, 2014

Has been in transition over the last couple of years. Feels all of the scandals they had, a couple of years ago are pretty much behind them. New CEO has done a very good job of weeding out that element of the company. Have been making great gains in getting contracts, particularly domestically. It is now priced at a point where it is probably close to 20X earnings and is selling at over 4X Book Value. On ROE, they are going to earn about $3 on a BV of $14, and this is a little bit rich.

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Has been in transition over the last couple of years. Feels all of the scandals they had, a couple of years ago are pretty much behind them. New CEO has done a very good job of weeding out that element of the company. Have been making great gains in getting contracts, particularly domestically. It is now priced at a point where it is probably close to 20X earnings and is selling at over 4X Book Value. On ROE, they are going to earn about $3 on a BV of $14, and this is a little bit rich.

PAST TOP PICK
PAST TOP PICK
July 28, 2014

(A Top Pick July 22/13. Up 35.99%.) At over $100, he figures a split is going to have to come. Banks like to be available to the general investing public, as well as to institutional investors. Sells at one of the lower multiples.

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(A Top Pick July 22/13. Up 35.99%.) At over $100, he figures a split is going to have to come. Banks like to be available to the general investing public, as well as to institutional investors. Sells at one of the lower multiples.

TOP PICK
TOP PICK
July 28, 2014

(A Top Pick July 22/13. Up 35.2%.) Management has surfaced value with their spin out of PrairieSky (PSK-T), sold Big Horn and acquired some property in Eagle Ford. Becoming much more exposed to liquids than to natural gas. Have done some extremely smart things with their asset base, as well as making some very strategic acquisitions. Good cash position of about $2.7 billion. Still has a long ways to go.

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Encana Corp (ECA-T)
July 28, 2014

(A Top Pick July 22/13. Up 35.2%.) Management has surfaced value with their spin out of PrairieSky (PSK-T), sold Big Horn and acquired some property in Eagle Ford. Becoming much more exposed to liquids than to natural gas. Have done some extremely smart things with their asset base, as well as making some very strategic acquisitions. Good cash position of about $2.7 billion. Still has a long ways to go.

PAST TOP PICK
PAST TOP PICK
July 28, 2014

(A Top Pick July 22/13. Up 12.51%.) He keeps hoping to see a bit more out of Churchill. This company got into a lot of trouble 3-4 years ago when a lot of their construction projects had huge cost overruns. Those have mostly run through the system, and lately their backlog has been building. There will be an improvement in margins as the new backlog works its way through the system,. Thinks we can still see some fairly significant capital appreciation on this company.

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(A Top Pick July 22/13. Up 12.51%.) He keeps hoping to see a bit more out of Churchill. This company got into a lot of trouble 3-4 years ago when a lot of their construction projects had huge cost overruns. Those have mostly run through the system, and lately their backlog has been building. There will be an improvement in margins as the new backlog works its way through the system,. Thinks we can still see some fairly significant capital appreciation on this company.

DON'T BUY
DON'T BUY
July 28, 2014

Generally the airlines have done extremely well over the last year or so. Doesn’t like participating in the airline industry. Thinks they will be squeezed a little by fuel costs, particularly in Ontario with their proposed tax on jet fuel. Airlines in general have extremely high capital costs and are extremely expensive to run. This is not an area that he would be jumping into.

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Generally the airlines have done extremely well over the last year or so. Doesn’t like participating in the airline industry. Thinks they will be squeezed a little by fuel costs, particularly in Ontario with their proposed tax on jet fuel. Airlines in general have extremely high capital costs and are extremely expensive to run. This is not an area that he would be jumping into.

COMMENT
COMMENT
July 28, 2014

Feels the parts are worth much more than what the current share price is reflecting. Management has changed over the last 2 years. They are more focused on nearer-term profitable ventures and selling off what they consider to be more extraneous assets. They have a target of selling about another $2 billion of assets. There are rumours that Repsol is coming in looking at the company, or possibly select assets. It hasn’t really participated with a lot of the other energy companies. He is hoping to see some capital gains from here.

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Feels the parts are worth much more than what the current share price is reflecting. Management has changed over the last 2 years. They are more focused on nearer-term profitable ventures and selling off what they consider to be more extraneous assets. They have a target of selling about another $2 billion of assets. There are rumours that Repsol is coming in looking at the company, or possibly select assets. It hasn’t really participated with a lot of the other energy companies. He is hoping to see some capital gains from here.