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Today, Michael Sprung commented about whether HBM-T, ECA-T, RY-T, CAS-T, NFI-T, FN-T, PPL-T, TRP-T, ENB-T, WCP-T, BCE-T, T-T, SJR.B-T, AD-T, RY-T, ECI-T, VET-T, GIB.A-T, SU-T, POW-T, PWF-T, NA-T, LNR-T, HPE-N, BPY.UN-T, CHP.UN-T, CCO-T are stocks to buy or sell.

COMMENT
Market Outlook. There appears to be a disconnect between the stock market and the economic outlook. Markets are buoyant, while companies continue to load up on debt. Companies have been beating earnings expectations, but earnings growth is deceleration. Share buybacks have been supporting the market, but he thinks now is the time to be more cautious. Watch companies that may have a hard time maintaining dividends.
Unknown
DON'T BUY
Cameco Corporation
He would be careful as a number of their properties are currently shut down. Uranium is one of the hardest metals to predict, because there are so many politics wrapped around the metal. He would not be investing here.
integrated mines
HOLD
The spin-off from Loblaws. They are well situated as the properties are leased to Loblaw stores. REITs will be interest rate sensitive, so if rates rise this could be impacted. If you own it, continue to hold.
REAL ESTATE
COMMENT
He would prefer to own the Asset Management group instead. You have to be cautious of the commercial properties coming on line. The yield is good, but he would look to other Brookfield holdings.
REAL ESTATE
COMMENT
Energy stocks for diversification? He is a firm believer in diversification and Energy has a good valuation. He might expect to see increased M&A activity by the stronger players. He wouldn't make a huge play in energy right now if you are retired -- it all depends on your personal situation.
Unknown
DON'T BUY
He does not follow this closely, but it has become involved in enterprise systems. Even though a lot can be produced offshore, they are in a very competitive environment. He thinks the brand is not the same it was 20 years ago. He would look elsewhere.
0
HOLD
Linamar Corp
It is pretty reasonably priced today. More of the automotive parts business is outsourced and LNR-T benefits. They have an advantage in the high precision parts they make. He owns it personally and has no intention to sell.
transportation equip & components
HOLD
It has over a 4% yield. On a valuation basis, it is not that much cheaper. They have diversified into the energy sector and built their wealth management business. It would not be his first pick in the space.
banks
COMMENT
Both the Power companies have broken out of their trading range. PWF-T holds Investors Group and other investment management and insurance companies that are well positioned. The Lifecos under their management are being rolled under one name. This may bring a surge in investor interest. He looks to see which is selling at a larger discount to NAV -- right now favoring PWF-T.
finance / leasing
COMMENT
Power Corp
Both the Power companies have broken out of their trading range. PWF-T holds Investors Group and other investment management and insurance companies that are well positioned. The Lifecos under their management are being rolled under one name. This may bring a surge in investor interest. He looks to see which is selling at a larger discount to NAV -- right now favoring PWF-T.
mngmnt / diversified
HOLD
Suncor Energy Inc
Will rail benefit? He thinks rail and the new Alberta government will benefit them. Pipelines are safer, but oil needs to move. SU-T is their primarily holding in the energy space. A fully integrated company that benefits from production and refining. Yield 3.5%.
integrated oils
BUY ON WEAKNESS
CGI Group (A)
It has been a good growth company. There is a large amount of organic growth occurring. A well-managed company, but it trades at too high a valuation for him right now -- although the growth may justify the valuation.
consulting
PAST TOP PICK
(A Top Pick Apr 16/18, Down 15%) A strong cash-flow generator and he continues to recommend it for the international diversification and good yield of 8%. He thinks the payout ratio is still less than 90% and will be capable of continuing the dividend.
oil / gas
PAST TOP PICK
EnerCare Inc
(A Top Pick Apr 16/18, Up 68%) Purchased by Brookfield shortly after recommending it. He sold it soon after the announcement close to the final price. He wished this happened more often.
Consumer Products
PAST TOP PICK
Royal Bank
(A Top Pick Apr 16/18, Up 16%) The Canadian banks have been recovering since December. RY-T is the dominant bank in the country. Overall, it has the scale to compete and has a good balance among its segments. He continues to recommend it.
banks