Has performed relatively well vs. the index, as do the Canadian banks. People are concerned about credit risk as we face an economic downturn. Still likes TD. Pending is a massive deal with First Horizons, a U.S. regional bank that will make TD an even-bigger bank in the US.
Recent results were a little better than expected. They have fits and starts, but never breaks through $30--that's their problem. Until then, sell at the top of the range and buy at the bottom. Trades at a cheap PE, cheaper than the other lifecos and banks. Pays a high dividend. They have a big presence across Asia, which is a secular growth driver, but China's reopen won't have that much impact. Holding them back is exposure in liabilities in the U.S. , though they have been selling off some of them. Would rather sell than buy it right now.
Likes it very much, a huge oil producer with some natural gas production. Pays a 4.5% dividend--it's a cash cow. Also bought back $5.6 billion of shares in the past 12 months and aren't adding debt to do it. In fact, debt levels are strong. Executives own a lot of shares. Can buy at current prices though it's showing lower highs and lower lows recently, but he expects prices to climb
Canada's top natural gas producer and is performing better than nat gas. Also is the largest processor of nat gas. Good geographic exposure--from the Montney, Deep River and Peace River. Earnings are growing at double-digits despite nat gas prices falling sharply. Are good at getting nat gas to market at good prices. Trades at 4x cash flow. Pullback in shares is good to buy.
(Analysts’ price target is $92.00)It grinds out profits year in year out, and grows at double digits. They will expand from 1,500 stores to 2,000 over the decade in high-traffic locations and moderate costs. Same-store sales growth will continue. They have a controlling interest in a Latin American joint venture, Dollar City, which extends growth in that faster-growing region.
(Analysts’ price target is $90.46)They serve 17 million benefits plan members, focusing on Medicare, the fastest-growing segment in US healthcare. Boasts 20% return on shareholder equity, growing earnings at 14% compounded over the past decade. This should continue, given demographics and inflation. Also, in a non-cyclical part of the market in coming quarters. Pullback allows a good entry point.
(Analysts’ price target is $597.91)