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Today, Brian Madden commented about whether NTR-T, ATD.B-T, MFC-T, FTS-T, BEP.UN-T, STE-T, IFC-T, MX-T, DOL-T, CNR-T, CURA-CSE, IPL-T, CP-T are stocks to buy or sell.

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COMMENT

Social media frenzied stocks. A sideshow circus. He doesn't waste time thinking about what speculators are doing. There's always some new shiny object to look at. Who needs dividends and pesky taxes when you get free popcorn for buying shares of AMC?

COMMENT

TSX hitting 20,000. He scored metrics on all of the major developed market global equity indices, and the TSX edges out all others on valuation. It's all the more compelling given that Canada's poised to post its strongest economic growth in 35 years, where GDP forecasts are estimated at north of 6%, which is triple the long-term average growth rate. Corporate earnings have roared back. Index earnings for 2021 are forecast to eclipse the former all-time high by over 10%. Tailwinds include a rip-roaring bull market in commodities, and the Canadian index has 73% of its companies in cyclically sensitive sectors like financials, consumer discretionary, materials, industrials. He upweighted Canadian equities at the beginning of the year.

COMMENT

Economic strength merely a bounceback from the pandemic? It is, but the real tell is that corporate earnings are forecast to hit an all-time high. The Y/Y comparisons from 2020 are going to be sensational. But if you compare 2021 to 2019, we're going to be at a new peak. Over the long haul, stock prices follow corporate earnings.

BUY

Canadian banks. He'd buy the Canadian banks now. He owns 3 of them. Good companies. Core holdings. Maximum pressure on net interest margins should start to ease in the back half of the year. We're at the maximum trough point for reversing credit losses. Later this year, investors should get good news on dividend increases and share buybacks. They've never been this well capitalized. If you wait for a pullback, you miss the forest for the trees. Don't do that.

BUY

Good time to own all the rails. Supply chain bottlenecks. Developed world is flush with cash, and they're buying stuff. Trades at 23x earnings, on par with peers. Consolation prize from the KSU failed deal, which could come back to shareholders. Good, steady double-digit or high single-digit growth.

COMMENT

Why is the lower offer being entertained? Good assets, cyclically depressed. He owns PPL and BIP.UN through BAM, the potential buyers. A merged company is good for PPL. The PPL offer is not superior to the hostile Brookfield offer, but it helps them keep their jobs. The tug-of-war is good financially for shareholders. IPL Board has a fiduciary duty to deliver the most value to shareholders, and this would be the Brookfield offer.

BUY

A bifurcated industry, with those financially sound vs. the other ones. Pleased with how they're growing their business. Large addressable market in Europe. Not profitable, but revenue is growing quickly. Vertically integrated. 100+ dispensaries downstream. Likes geographic footprint. Going to be a long-term leader in what will be a huge industry.

BUY

21-22x earnings. Best rail network in NA, only to get better with KSU, especially tapping into auto plants. Well managed. Efficient, reliable. Cyclically advantaged, with a lot of freight moving. Strategically important asset and infrastructure.

PAST TOP PICK

(A Top Pick Jun 11/20, Up 13%) He sold. Still likes the company, but he had better ideas in the near-term. Windfall last year, as it was an essential retailer. This year, comparisons will lag and some aisles are off-limits as non-essential.

PAST TOP PICK

(A Top Pick Jun 11/20, Up 65%) Came roaring back from the abyss. Making lots of money at current methanol prices. Robust industrial protection. Wind at their backs. He's still buying. Significant ongoing upside potential. Valuation still undemanding.

PAST TOP PICK

(A Top Pick Jun 11/20, Up 29%) Capable acquirers. Recent acquisitions are expected to be accretive. Good environment for P&C insurers. By far, best in breed in Canada, maybe in NA.

RISKY

A trade, not a long-term hold. Steel is wildly cyclical. Has gone bankrupt at least twice and finds ways to get into trouble pretty reliably. Steel prices are very high right now, so you're looking at a maximum of 1-1.5 years of good times.

BUY

A core, long-term holding. Current income through its dividend of close to 3%, and will grow fairly steadily. Political winds of change are blowing pretty strongly in Canada, meaning a lot of investment in the sector. Good total return potential.

WAIT

One of the best diversified conglomerate utilities on the TSX. Has owned in the past, and sees owning again when his portfolio gets more defensive, but probably not this year. Predictable business model. Excellent consistency of earnings, good dividend growth. Right now, better opportunities with the strong economy.

COMMENT

Canadian lumber stocks. Excellent example of the market being a forward-looking, discounting mechanism. BAM has disposed of all of their WFG shares, a noteworthy sale. Indicates the top of the cycle. None of the producers are timely right now.

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Latest Stock Buy or Sell? Make More Informed Decisions!

Social media frenzied stocks.(A Commentary)

TSX hitting 20,000. (A Commentary)

Economic strength merely a bounceback from the pandemic?(A Commentary)

Canadian banks.(A Commentary)

Canadian Pacific Rail(CP-T)

Inter Pipeline(IPL-T)

Curaleaf Holdings Inc(CURA-CSE)

Canadian National R.R.(CNR-T)

Dollarama Inc.(DOL-T)

Methanex Corp(MX-T)

Intact Financial(IFC-T)

Stelco Inc(STE-T)

Brookfield Renewable Partners(BEP.UN-T)

Fortis Inc.(FTS-T)

Canadian lumber stocks.(A Commentary)

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