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Today, Ryan Bushell commented about whether CM-T, IPL-T, ARX-T, CPX-T, ENB-T, CNR-T, CP-T, CSU-T, POW-T, PWF-T, BIP.UN-T, ARX-T, BNS-T, MFC-T, NFI-T, ECA-T, SHAW-N, RCI.B-T, T-T, PZA-T, WIR.UN-T, SMU.UN-T, BCE-T, LNR-T are stocks to buy or sell.

COMMENT

Market Outlook(A Commentary)

16/07/2019
A Comment -- General Comments From an Expert
Market Outlook He is of the opinion that the US Fed will cut rates and this is helping fuel the latest rally in the market. But he wonders if we are pushing on string and might make matters worse down the road. He sees a lot of excesses like crypto currency. He thinks the Republication party is wanting to keep things strong going into the 2020 elections. He thinks the energy sector could be producing up to 5 million barrels per day in Canada if the proposed pipeline projects in and out of Canada would have been completed as originally proposed. Instead the US has increased its production to take this opportunity away. WTI prices are near $80 Canadian per barrel, so things are not that bad. Maybe now is the time to buy when everyone is heading for the door.
Unknown
Ryan Bushell
N/A
Unknown
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DON'T BUY

Linamar Corp(LNR-T)

16/07/2019
Linamar Corp
His analyst see it trading at half its normal value to book value -- incredibly cheap. The problem is we are late in the economic expansion cycle. There is a school of that that the central banks may prolong the trend, but he doesn't believe it. There is fear about auto demand going forward. He doesn't think you need to be into this just yet.
transportation equip & components
Ryan Bushell
$45.290
No
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HOLD

BCE Inc.(BCE-T)

16/07/2019
BCE Inc.
A bond proxy? A steady stock with a good dividend. The price war in wireless is canalizing some margins. He thinks the fundamentals of the company will likely deteriorate over the next couple of years. A 5.3% yield. He will continue to hold for now.
telephone utilities
Ryan Bushell
$60.000
Owned
UnlockRating
HOLD

SUMMIT INDUSTRIAL INCOME REIT RCPTS(SMU.UN-T)

16/07/2019
SUMMIT INDUSTRIAL INCOME REIT RCPTS
The industrial real estate space has done very well. E-commerce and changing logistics needs of customer has driven demand. He holds WPT-T instead. He would continue to hold both.
investment companies / funds
Ryan Bushell
$12.990
Unknown
UnlockRating
HOLD

WPT Industrial REIT(WIR.UN-T)

16/07/2019
WPT Industrial REIT

The industrial real estate space has done very well. E-commerce and changing logistics needs of customer has driven demand. He holds WPT-T instead. He would continue to hold both.

0
Ryan Bushell
$13.650
Unknown
UnlockRating
DON'T BUY

Pizza Pizza Royalty(PZA-T)

16/07/2019
Pizza Pizza Royalty
He does not own this. There has been a lot of consolidation in the retail food space. The company has been withering a bit and is feeling the impact of Uber Eats. The question is if they can be re-define themselves. He hopes they don't cut the dividend. He would not buy into it.
food stores
Ryan Bushell
$9.830
No
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BUY ON WEAKNESS

Telus Corp(T-T)

16/07/2019
Telus Corp

Telus vs Rogers? He prefers neither. The valuation is too rich. He sold his Rogers around $72. He would prefer Telus as it is more diversified and does not have the struggles of content issues. He would actually buy Shaw instead as they enter the wireless space. He would buy all three on weakness, but enter Shaw today.

telephone utilities
Ryan Bushell
$48.320
Unknown
UnlockRating
BUY ON WEAKNESS

Rogers Communications (B)(RCI.B-T)

16/07/2019
Rogers Communications (B)

Telus vs Rogers? He prefers neither. The valuation is too rich. He sold his Rogers around $72. He would prefer Telus as it is more diversified and does not have the struggles of content issues. He would actually buy Shaw instead as they enter the wireless space. He would buy all three on weakness, but enter Shaw today.

Cable
Ryan Bushell
$70.330
Unknown
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BUY ON WEAKNESS

Shaw Group Inc.(SHAW-N)

16/07/2019
Shaw Group Inc.

Telus vs Rogers? He prefers neither. The valuation is too rich. He sold his Rogers around $72. He would prefer Telus as it is more diversified and does not have the struggles of content issues. He would actually buy Shaw instead as they enter the wireless space. He would buy all three on weakness, but enter Shaw today.

steel
Ryan Bushell
N/A
Unknown
UnlockRating
DON'T BUY

Encana Corp(ECA-T)

16/07/2019
Encana Corp
He would not pick this one. Their dividend is not favorable. They have consistently bought high and sold low -- moving in and out of natural gas at the wrong time. There are better choices out there.
oil / gas
Ryan Bushell
$6.080
No
UnlockRating
BUY

New Flyer Industries Inc.(NFI-T)

16/07/2019
New Flyer Industries Inc.
2019 forecast cut? They cut the guidance by 3.4% and the stock is down 10%. He thinks this was overly punitive. They just completed a UK acquisition that he likes and the dividend is solid. They just bought more in the past few months and will buy more when he gets back to his desk. The trend in urbanization continues to increase and this is the fastest, low cost method for increasing transportation. Their recent issues will be transient.
Automotive
Ryan Bushell
$31.720
Owned
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PAST TOP PICK

Manulife Financial(MFC-T)

16/07/2019
Manulife Financial
(A Top Pick Jul 03/18, Up 6%) He is surprised the stock has not done better. They are looking to divest some of their US divisions, which he sees as having weighed the company down. The new CEO has been working hard and he expects to come up with some good strategies going forward.
insurance
Ryan Bushell
$24.170
Owned
UnlockRating
PAST TOP PICK

Bank of Nova Scotia(BNS-T)

16/07/2019
Bank of Nova Scotia
(A Top Pick Jul 03/18, Down 2%) The Canadian banks are good value right now. They trade between 9 & 12 times earnings. The yield is almost 5% and there could be room for dividend growth. He continues to add to his clients holdings.
banks
Ryan Bushell
$69.420
Owned
UnlockRating
PAST TOP PICK

Arc Resources Ltd(ARX-T)

16/07/2019
Arc Resources Ltd
(A Top Pick Jul 03/18, Down 49%) The company made the same amount of money in Q1 as last year. He is perplexed by the market sentiment. The dividend is over 9% and he thinks they will not cut it at current oil and gas prices. Oil accounts for 70% of their cash flow. A bargain and he continues to buy. Yield 9.2%
oil / gas
Ryan Bushell
$6.580
Owned
UnlockRating
BUY ON WEAKNESS

Brookfield Infrastructure Partners(BIP.UN-T)

16/07/2019
Brookfield Infrastructure Partners
Good for slowing economic growth? He owns this. This is a good as it diversifies away from real estate. He has a hard time buying at these valuations. He likes the assets like toll roads. He would buy back into the low $50s. Yield is close to 5% and the dividend grows by 5% each year. (Analysts’ price target is $61.00)
Energy Infrastructure, Industrials & Utilities
Ryan Bushell
$57.290
Owned
UnlockRating

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