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Today, Bruce Campbell (1) commented about whether GLW-N, TD-T, ACO.X-T, BAM-N, PPL-T, CPG-T, EMA-T, ACB-T, WTE-T, PKI-T, ATD.B-T, CTC.A-T, TECK.B-T, NTR-T, ATD.B-T, BNS-T, AQN-T, GEI-T, BTE-T, CSX-Q, CP-T, CNR-T, BCE-T, T-T, CNR-T, WCP-T, MG-T, MFC-T are stocks to buy or sell.
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COMMENT
Market Outlook The market is a little scary up here. If a new client came today with cash, he would suggest only getting into partial positions and buy on weakness. Although there is some room for the market to go higher into the spring, he would be concerned after the US Presidential election. Then you will need to be more defensive, hold more cash and gold. Energy, banks and financials are all picking up momentum and he thinks these are good areas to find defensive holdings that can pay a good yield as well.
Unknown
N/A
Unknown
HOLD
They raised the dividend late last year and he expects another boost again. They are growing their business in Asia. Margins have been squeezed a bit with lower interest rates, but based on their recent earnings report, they are weathering it well. He thinks there is value up to $28-$30. Yield 4%
insurance
HOLD
Well run with good management. A cyclical business, where car sales are flattening globally. Statistically cheap right now. There may be a 6 month trade in this. A further slowing in the economy, would not hurt this stock materially. He would look for only $3-$4 per share upside before taking profit.
Automotive
HOLD
A Western Canadian light oil producer. A well run company. The dividend is safe, he thinks. If you like energy at all, this would be one of his favorites. You could easily see $7 per share again -- a 45% gain potential, including the dividend. The balance sheet is also pretty good. The pipeline situation in Western Canada needs to be resolved. Yield 7%
Oil and Gas (Integrated Oils)
BUY
This is a good holding to get general economic exposure without a lot of risk. They benefit from the lack of oil pipeline constraints -- this accounts for 3-4% of its value. At $126, there was not much more upside to the share price. He expects a high single-digit return if you buy now.
Transportation
RISKY
It may be slightly lower in reputation compared to his other holdings. It is very low valued and he thinks they have fixed the balance sheet. Ten years ago it traded almost $60 per share. They added leverage when oil prices were high and made a large US acquisition at the wrong time. The stock will never return to those lofty levels, it may get back to $4-$5 -- still a great return. A little bit riskier this could be a speculative buy. Yield 0%
oil / gas
HOLD
A mid-market company in the energy space -- not a producer. A quasi utility, with a reasonable dividend and some growth opportunity. He would hold it.
pipelines
HOLD
He likes this and has owned it as a Past Top Pick. He was a buyer below $10. It grows by acquisition along with good organic growth. It is still undervalued compared to its peers. It could still go up another couple of dollars per share. A good solid hold.
electrical utilities
PAST TOP PICK
(A Top Pick Oct 30/18, Up 11%) It is starting move upward now. It is 50% international in its business. They are getting out of Chile and Thailand. They have recently added some Canadian assets that the market did not like. Their last quarterly report was very positive and the market is starting to adjust. He will continue to hold it.
banks
PAST TOP PICK
(A Top Pick Oct 30/18, Up 34%) It was undervalued a year ago. He didn't expect this type of return. The company has made some US acquisitions that are working well out. Gas margins were above average and e-cigarettes are helping them as well. The recent fear of vaping regulations, won't hurt them, it may just slow their growth. A stock split is expected soon. He thinks another 10% upside is possible this year.
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