Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
December 27, 2017

A good time to buy? Likes it. One of those Canadian companies that are a global champion. They operate convenience stores better than anyone else in the world almost. Very good at allocating capital. They executed on their growth through acquisition strategies very efficiently. Just received regulatory approval on their acquisition of Holiday. They should be able to generate additional synergies that should translate into more cash flow and earnings. Margin on oil price is a driver for their profitability. Very good merchandiser, being able to upsell and driving incremental same store sales growth. Sees possibility to continue to grow earnings and potential margin expansion. Trading around 16.5X earnings today versus the low 20s they peaked out in the past. Not expensive relative to its own history. Very good historical business in Canada and a global champion. (Analysts’ price target is $79.)

A good time to buy? Likes it. One of those Canadian companies that are a global champion. They operate convenience stores better than anyone else in the world almost. Very good at allocating capital. They executed on their growth through acquisition strategies very efficiently. Just received regulatory approval on their acquisition of Holiday. They should be able to generate additional synergies that should translate into more cash flow and earnings. Margin on oil price is a driver for their profitability. Very good merchandiser, being able to upsell and driving incremental same store sales growth. Sees possibility to continue to grow earnings and potential margin expansion. Trading around 16.5X earnings today versus the low 20s they peaked out in the past. Not expensive relative to its own history. Very good historical business in Canada and a global champion. (Analysts’ price target is $79.)

Geoff Scott
Institutional Portfolio Manager, Cambridge Global Asset Management
Price
$65.720
Owned
Yes
DON'T BUY
DON'T BUY
December 27, 2017

Doesn’t think this is a time to buy in. They owned it and sold out of it toward the end of 2016 and 2017. The good news are already priced in. Cyclical. When they bought in 2016 it was trading around 8-9X earnings, today it’s around 13.5X earnings. The multiple expanded along with the fundamentals.Thinks the upside and fundamentals are already priced in. (Analysts’ price target is $30.25.)

Bank of America (BAC-N)
December 27, 2017

Doesn’t think this is a time to buy in. They owned it and sold out of it toward the end of 2016 and 2017. The good news are already priced in. Cyclical. When they bought in 2016 it was trading around 8-9X earnings, today it’s around 13.5X earnings. The multiple expanded along with the fundamentals.Thinks the upside and fundamentals are already priced in. (Analysts’ price target is $30.25.)

Geoff Scott
Institutional Portfolio Manager, Cambridge Global Asset Management
Price
$29.730
Owned
No
COMMENT
COMMENT
December 27, 2017

The big news around Disney today is their acquisition of Fox. It’s a huge deal. As the integration unfolds into 2018, you may get a better opportunity to buy in. This whole space and the way people consume media is changing. Disney certainly owns a lot of content that people know and love and watch on a regular basis but the monetization of that will change, and understanding where their potential pinch points are could evolve also.

Walt Disney (DIS-N)
December 27, 2017

The big news around Disney today is their acquisition of Fox. It’s a huge deal. As the integration unfolds into 2018, you may get a better opportunity to buy in. This whole space and the way people consume media is changing. Disney certainly owns a lot of content that people know and love and watch on a regular basis but the monetization of that will change, and understanding where their potential pinch points are could evolve also.

Geoff Scott
Institutional Portfolio Manager, Cambridge Global Asset Management
Price
$107.640
Owned
No
DON'T BUY
DON'T BUY
December 27, 2017

A Buy or a Sell? A great business. They have a great product trying to facilitate the online merchants transition for small/medium sized businesses. He wouldn’t buy at this point. Had a tremendous run over the last number of years. It’s one they are watching and perhaps on a pull back, they would get an opportunity to buy into it. Valuation seems full at this time. It’s hard to get excited when they don’t see meaningful upside.

Shopify Inc. (SHOP-T)
December 27, 2017

A Buy or a Sell? A great business. They have a great product trying to facilitate the online merchants transition for small/medium sized businesses. He wouldn’t buy at this point. Had a tremendous run over the last number of years. It’s one they are watching and perhaps on a pull back, they would get an opportunity to buy into it. Valuation seems full at this time. It’s hard to get excited when they don’t see meaningful upside.

Geoff Scott
Institutional Portfolio Manager, Cambridge Global Asset Management
Price
$132.200
Owned
No
BUY
BUY
December 27, 2017

This is a company that they own a great deal of and like very much. Their legacy business is Norton Antivirus. They are transforming the business into more business to business application for commercial cyber security. Thinks the new CEO is well positioned to do the transition. It has lagged this year and this is one reason they like it. Very favorable into 2018 and beyond.

Symantec Corp (SYMC-Q)
December 27, 2017

This is a company that they own a great deal of and like very much. Their legacy business is Norton Antivirus. They are transforming the business into more business to business application for commercial cyber security. Thinks the new CEO is well positioned to do the transition. It has lagged this year and this is one reason they like it. Very favorable into 2018 and beyond.

Geoff Scott
Institutional Portfolio Manager, Cambridge Global Asset Management
Price
$28.450
Owned
Yes
PARTIAL BUY
PARTIAL BUY
December 27, 2017

This is a company they liked for a long time and they continue to like it. Had their executives in their offices 2 weeks ago to give an update. They are continuing to execute, has been a great compounder for shareholders over the long term. 2017 hasn’t been their best year in their history, but it’s positioned well for 2018. Certainly not a cheap stock, valuation reflects the solid fundamentals ahead, and he thinks it’s a good one to stick with in the long term. Feels comfortable buying at $58, maybe don’t initiate a full position, give yourself room to add more if we do get a broader market sell-off or something specific to CCL Industries.

This is a company they liked for a long time and they continue to like it. Had their executives in their offices 2 weeks ago to give an update. They are continuing to execute, has been a great compounder for shareholders over the long term. 2017 hasn’t been their best year in their history, but it’s positioned well for 2018. Certainly not a cheap stock, valuation reflects the solid fundamentals ahead, and he thinks it’s a good one to stick with in the long term. Feels comfortable buying at $58, maybe don’t initiate a full position, give yourself room to add more if we do get a broader market sell-off or something specific to CCL Industries.

Geoff Scott
Institutional Portfolio Manager, Cambridge Global Asset Management
Price
$58.820
Owned
Unknown
DON'T BUY
DON'T BUY
December 27, 2017

Doesn’t like. They don’t own any of the banks in Canada. It’s one he would avoid he doesn’t see good upside. Had a nice rebounce coming back from the energy issues that plagued the sector in 2015 and early 2016. If he owned, he would look at trimming and wouldn’t be picking up here. The oil environment has improved and gotten a lot better and thinks Canadian Western Bank is fully valued at this point. It’s a valuation issue, and also a broader issue around the banking sector with valuations, you are paying for the fundamentals, and thinks fundamentals are rather toppy in terms of the credit cycle.

Doesn’t like. They don’t own any of the banks in Canada. It’s one he would avoid he doesn’t see good upside. Had a nice rebounce coming back from the energy issues that plagued the sector in 2015 and early 2016. If he owned, he would look at trimming and wouldn’t be picking up here. The oil environment has improved and gotten a lot better and thinks Canadian Western Bank is fully valued at this point. It’s a valuation issue, and also a broader issue around the banking sector with valuations, you are paying for the fundamentals, and thinks fundamentals are rather toppy in terms of the credit cycle.

Geoff Scott
Institutional Portfolio Manager, Cambridge Global Asset Management
Price
$38.970
Owned
Unknown