Today, David Baskin commented about whether CAR.UN-T, BCE-T, TOU-T, WFG-T, DII.B-T, NVO-N, UBER-N, BIP.UN-T, ATRL-T, BN-T, TFII-T, TCN-T, REI.UN-T, TD-T, COST-Q, AMZN-Q, DIS-N, MS-N, GS-N, GRT.UN-T, RTX-N, SHOP-T, RY-T, ADBE-Q are stocks to buy or sell.
Pleased that the First Horizon deal collapsed. TD pays a great return on invested capital, about 16%. Great staying power in Canada. The US is investigating it for their money-laundering compliance, but it's not a mortal threat and they'll likely be fined. Likes their big retail platform in the US. It's his second-biggest Canadian bank holding.
They're face increased regulation around the world, like battles over employees' minimum wage and worker safety--they're losing these legal battles. Also, there's fierce competition. It's never been a profitable company and he doesn't see profits ahead. A risk of paying their drivers more, which will eat into profits.
His favourite is natural gas. Solar is at the mercy of the sun, and suffers on cloudy days. Nat gas you can turn on and off at will. The more solar and wind power, there will be more nat gas demand with nat gas as a back-up. He read a book that says that modern civilization depends on 4 cornerstones which all rely on fossil fuels: fertilizer-driven agriculture, cement, steel and plastics. Even if every car was an EV, we'd still need fossil fuels. TOU has tremendous reserves and pays a good yield.
(Analysts’ price target is $81.00)The classic income stock. The dividend keeps rising year after year and he has clients who've owned it for generations. The stock appreciates modestly. All income stocks are in the toilet because of high interest rates, but now is a great time to buy it. It pays a dividend of 7%. They're finishing their 5G build-out, which will lead to lots of cash flow and maybe higher dividends. It's the least-indebted of the big 3 telcos. Oversold now.
(Analysts’ price target is $62.06)
It's too cheap now, but far more stable than peers like Alphabet and Apple. It's steady. He believes in it.