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Signal
Opinion
Expert
TOP PICK
TOP PICK
April 9, 2021
They participate in the spread when the deal is announced. Shaw is trading 24% the price Rogers has offered. This is due to the fear of regulatory intervention. Thinks that the real concern is on the wireless side, and this deal works without the wireless side. They can divest Shaw's wireless side and still be a good deal. Thinks there is a 85% chance of the deal going through. (Analysts’ price target is $37.92)
They participate in the spread when the deal is announced. Shaw is trading 24% the price Rogers has offered. This is due to the fear of regulatory intervention. Thinks that the real concern is on the wireless side, and this deal works without the wireless side. They can divest Shaw's wireless side and still be a good deal. Thinks there is a 85% chance of the deal going through. (Analysts’ price target is $37.92)
TOP PICK
TOP PICK
April 9, 2021
In a transformation to digital by investing in wealth business acuiqistions. International exposure is being retooled too. Likes it in general since banks have tail winds like yield curve steepening, ability to buy back stocks again, etc. One of the cheaper banks. The wealth business is showing good returns. Good value and volatility measures. (Analysts’ price target is $80.45)
Show full opinionHide full opinionIn a transformation to digital by investing in wealth business acuiqistions. International exposure is being retooled too. Likes it in general since banks have tail winds like yield curve steepening, ability to buy back stocks again, etc. One of the cheaper banks. The wealth business is showing good returns. Good value and volatility measures. (Analysts’ price target is $80.45)
TOP PICK
TOP PICK
April 9, 2021
Likes it for the non-bank financial play. In a bull cycle, one area to look at is broker dealers and asset managers. They are a wealth planner. Relatively new holding for him. Good price momentum and very reasonably priced at 8x enterprise value, 6.8x free cashflow, 16x earnings. Great balance sheet and using it for doing mergers. Fragmented business that can be consolidated. (Analysts’ price target is $249.46)
Show full opinionHide full opinionLikes it for the non-bank financial play. In a bull cycle, one area to look at is broker dealers and asset managers. They are a wealth planner. Relatively new holding for him. Good price momentum and very reasonably priced at 8x enterprise value, 6.8x free cashflow, 16x earnings. Great balance sheet and using it for doing mergers. Fragmented business that can be consolidated. (Analysts’ price target is $249.46)
BUY
BUY
April 9, 2021
Likes banks in general. TD is on the upper end of price. Likes the good price momentum, reasonable multiple, and return of reserves. The rising yield curve is good for the banks. Mortgage rates have started to go back up again. Payout ratio is good, earnings are good. US exposure is a positive right now. Retail trading has exploded.
Show full opinionHide full opinionLikes banks in general. TD is on the upper end of price. Likes the good price momentum, reasonable multiple, and return of reserves. The rising yield curve is good for the banks. Mortgage rates have started to go back up again. Payout ratio is good, earnings are good. US exposure is a positive right now. Retail trading has exploded.
COMMENT
COMMENT
April 9, 2021
Evaluates on reasonable valuation, good price trend and prefer lower volatility. For ACQ, it has good price momentum and good value characteristics. 7.5x cashflow. Debt is a bit heavy. With less debt, he would look closer at it.
Show full opinionHide full opinionEvaluates on reasonable valuation, good price trend and prefer lower volatility. For ACQ, it has good price momentum and good value characteristics. 7.5x cashflow. Debt is a bit heavy. With less debt, he would look closer at it.
SHORT
SHORT
April 9, 2021
Net short due to overall lagging price momentum and valuation. Good yield but heavy on the debt side and missed on earnings. Expensive at 15x EBITDA. A hedge against other long positions. Yield is quite large and will not be going away.
Show full opinionHide full opinionNet short due to overall lagging price momentum and valuation. Good yield but heavy on the debt side and missed on earnings. Expensive at 15x EBITDA. A hedge against other long positions. Yield is quite large and will not be going away.
BUY
BUY
April 9, 2021
Likes it. A cyclical business. Commercial business has rationalized costs for base business and made some acquisitions. Good cashflow. There is a lack of growth but they are solving it with m&a. Valuation is cheap at 6x cashflow and enterprise value. Could be choppy around earnings releases. Overall trend is in a good direction. A long.
Show full opinionHide full opinionLikes it. A cyclical business. Commercial business has rationalized costs for base business and made some acquisitions. Good cashflow. There is a lack of growth but they are solving it with m&a. Valuation is cheap at 6x cashflow and enterprise value. Could be choppy around earnings releases. Overall trend is in a good direction. A long.
