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Today, Chris Blumas commented about whether BAM.A-T, ENB-T, DLTR-Q, JNJ-N, PPL-T, CSH.UN-T, FFH-T, UL-N, H-T, BPY.UN-T, BIP.UN-T, ACO.X-T, INTC-Q, BABA-N are stocks to buy or sell.

COMMENT

A Comment -- General Comments From an Expert(A Commentary)

08/01/2021
A Comment -- General Comments From an Expert
There's no shortage of uncertainty in the market. The big concern is valuation and where markets can go from here. The uncertainty will not change, but there are pockets of value. Energy infrastructures, financials and REITs offer good sources of value. Hyper-growth stocks have been bid up to extreme levels. We must not paint the market with a broad stroke. There are pockets of excesses but there are others of reasonable valuations.
Unknown
Chris Blumas
N/A
Unknown
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COMMENT

A Comment -- General Comments From an Expert(A Commentary)

08/01/2021
A Comment -- General Comments From an Expert
The deep cyclicals do not interest him. There are some moderate cyclicals that are interesting. Cineplex for example, who was hit by the pandemic, is too speculative right now. It is leveraged and extended. Airlines are also too speculative at this time. Be defensive and focus on valuations. Pick companies that will do well regardless of how the economy weathers the pandemic.
Unknown
Chris Blumas
N/A
Unknown
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HOLD

Alibaba Group Holding(BABA-N)

08/01/2021
Alibaba Group Holding
It has a compelling business proposition. The largest online marketplace in China. Regulation is the big overhang. Last year, the Chinese governments put out anti-trust rules that have the potential to impact them the most. It is an enduring business model with favourable valuation. Would not purchase with new money, but would hold if you already have it. The disappearance of the founder, Jack Ma, is also worrying.
0
Chris Blumas
$236.790
No
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HOLD

Intel(INTC-Q)

08/01/2021
Intel
Their largest segment is with PC. They have been left behind as more and more usage has shifted to smartphones and away from their strong hold PC segment. There were also problems with the manufacturing side that has caused headwinds for the company. There was an activist that has come in recently to put pressure for change. Short-term, there could be some improvements. If you own it, hold it since they have some space to maneuver. Re-evaluate in 6 months.
computer parts mnfctr
Chris Blumas
$51.520
Unknown
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BUY ON WEAKNESS

Atco Ltd(ACO.X-T)

08/01/2021
Atco Ltd

The largest portion of its value comes from its stake in Canadian Utilities. It is a durable, defensive company. Prefer Fortis and Algonquin to it. If you own Atco, hold it. The valuation can swing around due to sentiment, but the company is disciplined and has a good balance sheet. Their capital program is good and generates good returns. A good defensive long term hold.

mngmnt / diversified
Chris Blumas
$37.240
Unknown
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BUY ON WEAKNESS

Brookfield Infrastructure Partners(BIP.UN-T)

08/01/2021
Brookfield Infrastructure Partners
A big fan of Brookfield in general. You get a collection of utility like assets that gives you an added level of diversification. Capital allocation and management team is good too. The valuation must be looked at carefully. He is willing to pay up to 14x forward funds for operations but it is a little expensive right now. An excellent example of a defensive company that will grow regardless of the economic environment. Invest when there is a pullback.
Energy Infrastructure, Industrials & Utilities
Chris Blumas
$63.825
No
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COMMENT

Brookfield Property Partners(BPY.UN-T)

08/01/2021
Brookfield Property Partners

The 3 different Brookfield offer is destined to appeal to different segments of investors and the reason they own it. For opportunistic traders, there is the cash buyout. For long investors, they are offering BAM.A shares. For income investors, they are offering preferred shares that still offers some dividends, although it is not as high as BPY paid. The best option depends on who you are.

REAL ESTATE
Chris Blumas
$21.410
Owned
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HOLD

Hydro One(H-T)

08/01/2021
Hydro One

He favours Fortis and Algonquin. H-T is a very stable business model. They had aggressive growth projects but they didn't work out. Would like to see more diversification of cashflow since it is very dependant on Ontario. It is a good, durable business. Would not sell it but it may not perform as well as others. Growth platform is limited.

electrical utilities
Chris Blumas
$29.540
No
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BUY ON WEAKNESS

Unilever PLC(UL-N)

08/01/2021
Unilever PLC
Really likes it. A defensive holding. Global with a good emerging markets footprint. They have now unified their listing. Cashflow is durable. The dividend is attractive. Trading at 19x forward earnings. A little expensive so wait for pullback.
food processing
Chris Blumas
$60.280
Owned
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COMMENT

Fairfax Financial(FFH-T)

08/01/2021
Fairfax Financial
Has followed this company for a long time and has owned it in the past. A unique company which makes it hard to value. He would look at price to book. Historically, they have been a disciplined underwriter of insurance which may mean their stated book value is understated. The underwriting business has become very difficult. It is probably still undervalued.
insurance
Chris Blumas
$465.680
No
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PAST TOP PICK

Chartwell Retirement Residences(CSH.UN-T)

08/01/2021
Chartwell Retirement Residences
(A Top Pick Dec 16/19, Down 20%) A company that has been hit hard by the pandemic. They were having some problems prior due to supply on the market. Occupancy has come down from 93% to 80% in the last 12 months due to the pandemic restrictions. A first class operator and demographics are in favour of the company. Currently trading at less than 14x cashflow and pays 5.5% dividend. Continues to buy it.
property mngmnt / investment
Chris Blumas
$10.680
Owned
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PAST TOP PICK

Pembina Pipeline Corp(PPL-T)

08/01/2021
Pembina Pipeline Corp
(A Top Pick Dec 16/19, Down 23%) Still likes it. The energy infrastructure names is very inexpensive. The cashflow stream is durable and it has proven itself during the 08/09 crisis. About 85% is from longterm contracts. They got hit from their mid-stream assets. Still really likes the assets and valuation. They cut their cap-ex plans to support the dividend.
pipelines
Chris Blumas
$33.650
Owned
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PAST TOP PICK

Johnson & Johnson(JNJ-N)

08/01/2021
Johnson & Johnson
(A Top Pick Dec 16/19, Up 16%) Has gained some altitude. There has been no shortage of negative headlines over the years. Pharmaceuticals is a litigious industry in general. A well diversified company. A slower growth pharma company. However, it is a wonderful company looking at durability. Valuation is just above their buy price of $148. Would wait for a pullback to enter.
biotechnology / pharmaceutical
Chris Blumas
$160.100
Owned
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TOP PICK

Dollar Tree(DLTR-Q)

08/01/2021
Dollar Tree
Has had some short term weakness due to their banner integration with Family Dollar. Insulated from online competition. Has a good growth profile. He would set the buy price around 18.5x forward earnings. (Analysts’ price target is $121.92)
merchandising / lodging
Chris Blumas
$112.450
Owned
UnlockRating
TOP PICK

Enbridge(ENB-T)

08/01/2021
Enbridge
Favourite within the space. Very inexpensive with a good dividend of almost 8%. Has a reasonable growth profile. Construction for line 3 replacement has started. There is negative sentiment that causes headwinds but the dividend focus is very positive. A defensive play. (Analysts’ price target is $51.91)
oil / gas pipelines
Chris Blumas
$42.250
Owned
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