Today, Chris Blumas and Jim Cramer - Mad Money commented about whether IONQ-N, RGTI-Q, QBTS-N, CCO-T, UUUU-N, LEU-N, OKLO-N, BWXT-N, SMR, GEV-N, LUNR-Q, RKLB-Q, UBER-N, CORZ-Q, GILD-Q, ORCL-N, MRNA-Q, JNJ-N, A-N, DHR-N, TMO-N, VRT-N, BAC-N, LHX-N, JBL-N, TD-T, CP-T, HON-N, NKE-N, BA-N, BIP.UN-T, FTS-T, AQN-T, T-T, V-N, AXP-N, CNR-T, ADBE-Q, YUMC-N, ENB-T, GIB.A-T, MEQ-T, EOG-N, CNQ-T, SHOP-T, FRU-T, TD-T, MG-T, BCE-T are stocks to buy or sell.
Markets plunged today after the Fed's Jay Powell announced a rate cut. Wait, shouldn't that be good news? Those hoping for more cuts ahead were disappointed because Powell announced fewer cuts next year, while those who want to stamp out inflation were discouraged by cuts. Nobody is happy. Powell sounded stern, even though he announced rate cuts. Powell has a tricky job; we have two economies--one on fire and the other stalled.
Has longed liked this and it's long been a good performer, but it has struggled since peaking in end-2021 and pulled back in 2022, and sideways ever since. TMO benefitted in 2020-1 as drug companies spent a fortune dealing with Covid and needed TMO's medical machines. From Oct. 2023 to Sept. 2024, shares rose 51%, but is down 18% since then. But they last reported a mixed quarter: a slight miss in revenue though a slight beat in earnings and soft guidance. It sold off and hasn't stopped, though announcing a $4 billion share buyback last month helped. He expects a graudal improvement as business picks up int he next two years. Trades at only 22x PE 2025 vs. 30x historically, so it's cheap now.
He bought this in early 2022, though it was mired in an inventory glut. He's stuck with it ebcause he expected it to bounce back. It still has a high PE though. Is down 19% from its August high, but is now a good entry point. An analyst just upgraded it. He expects the healthcare sector to come back next year.
This is his pick for income-seeking investors. Not a ton of robust growth in Canada, US growth has been curtailed. You don't buy this for growth. You're going to collect your dividend, over 3-5 years you're waiting for some kind of multiple expansion, and your total return should be quite good. Lowest PE multiple of the peer group. Protected dividend, great capital position.
(Analysts’ price target is $82.67)Still a great domestic franchise, and they'll figure things out in the US. One thing they have to consider is exiting the US completely. Canadian banks have all had a history with the biggest underperformer being the next outperformer (think CIBC). Yield is 6%.