| DON'T BUY | 23.010 | Kenneth P. Norquay, CMT | Everyone expects that the stock will suffer if oil goes up because of higher fuel costs. The chart is in a downtrend which shows that the theory works. Had a little bounce back recently, but is not sure if this is a reversal chart. A little too early to say. A bullish chart would be if it came back down and retested the low. | 2008-02-12 | |
| BUY | 26.430 | David Baskin | Break up value is somewhere in the mid 30’s. Have been aggressive and successful in moving pieces out. Worth a gamble | 2007-09-26 | |
| PAST TOP SHORT | 34.520 | Ross Healey | (A Top Short Aug 3/06. Up 20.9%. That means he was down.) Covered it very quickly as soon as they announced they were going to spin off Air Canada. It is again trading way above its fair market value and represents poor value.. | 2006-12-04 | |
| DON'T BUY | 36.750 | Peter Hodson | 90% of the airlines lose money, so why bother. | 2006-11-20 | |
| PAST TOP PICK | 35.130 | John Zechner | (A Top Pick Sept 13/05. Down 4%.) Still likes | 2006-09-27 | |
| DON'T BUY | 33.200 | Ben Stadelmann | Caller wondered about a Short. The sector has improved markedly. Thinks the airline industry as a whole is still in a recovery phase, so wouldn't Short. | 2006-09-14 | |
| DON'T BUY | 29.480 | Brian Acker, CA | The model price is $24.24. That's a 19% negative differential. | 2006-08-31 | |
| TOP SHORT | 28.620 | Ross Healey | Transportations are acting very poorly. | 2006-08-03 | |
| DON'T BUY | 28.370 | Bill Carrigan | It looks like it has just broke down through its support level. | 2006-07-17 | |
| BUY | 31.030 | Bill Carrigan | Have done well even with high input costs. If the input costs back off, they should do even better. There was a higher low at the end of 2005. Would probably prefer WestJet (WJA-T). | 2006-05-02 | |
| WEAK BUY | 35.630 | Ian Nakamoto | Have done a tremendous job since coming of bankruptcy. A very cyclical company. | 2006-01-31 | |
| PAST TOP PICK | 37.190 | John Zechner | (A Top Pick Sept 29/05. Up 4%.) It's in an environment of high oil prices, so it's a difficult play. Adding all the pieces up, the stock should be somewhere in the $50's. | 2005-12-12 | |
| TOP PICK | 37.300 | Jim Huang | Has reconstituted itself since the bankruptcy. The costs are lower and they are better operators than what they were before. They continue to have strategies to spin off more assets. | 2005-12-06 | |
| DON'T BUY | 34.900 | Don Vialoux | Had a big run from it issue price, but recently has had some problems. Technical trend is on the downside. Higher energy cost is effecting the price. | 2005-10-03 | |
| TOP PICK | 36.000 | John Zechner | (A Top Pick June 14/05. Down 36.05%.) Been down because of oil prices. If you broke up the parts the sum of them would be at least $50/55 a share. Thinks he can make money with it. | 2005-09-29 | |
| TOP PICK | 38.900 | John Zechner | Looking at the valuation of the Aeroplan Income Fund (AER.UN-T) and it adds up to something in the $60/65 neighbourhood, the stock has been trading in the high $30's. The parts add up to well over $50 and this is trading at under $40. | 2005-09-13 | |
| DON'T BUY | 40.700 | David Baskin | The aviation industry total over time has lost money. There is still a problem with contractable unions. Not a fan. | 2005-07-11 | |
| TOP PICK | 42.530 | John Zechner | A short term Buy. Buying for the low hanging fruit. Thinks there will be tremendous cash generation in the next 2 years with their restructuring, monetizing of the Aeroplan, repairing the overhaul division, etc. Could easily go $50/60. | 2005-06-14 | |
| TOP PICK | 40.350 | Michael Smedley | It's on a roll. Virtually monopolizes Canadian international traffic. Load factor is up to about 85% now. | 2005-06-08 | |
| TOP PICK | 34.190 | Gordon Higgins, CA, MBA, CFA | This is a pick for convertible debentures NOT the equity. There's a lot of good things that can happen to this company and they want to be able to participate. In 5 years he has the right to put the debenture back and get his $100 back. A way to play a risky sector with a cushion underneath and getting paid 4% to wait. | 2005-05-03 | |
| DON'T BUY | 34.640 | Michael Sprung | The demise of Jetsgo has been somewhat positive for Westjet, but it is still a very competitive market and is being affected by fuel costs. Has an advantage over Air Canada (ACE.B-T) because of Air Canada's legacy costs. Overall, airlines has not been a field that they generally have invested in bec ause of volatility. | 2005-04-28 | |
| WEAK BUY | 35.250 | John Zechner | A tough call. So many moving parts on this. Generating decent cash now. Have restructured. The balance sheet is in much better shape. Compared to the US players, on a valuation basis it is looking fairly cheap. | 2005-02-14 | |
| PAST TOP PICK | 36.400 | Michael Smedley | (A Top Pick Nov 25/04. Up 25%.) Still likes. Debt is still quite big. The formula seems to be working for it and the cycle seems to be right. May have another $10 to go. | 2005-01-19 | |
| HOLD | 35.550 | Glenn Paradis, BA, CFA | Not a big fan of airlines and doesn't invest in them. Right now there's a couple of positive things working in their favour. There's a pick up in travel and pricing. Speculation of Airoplan being spun out into an income trust structure which would give them some money to pay off debt. | 2005-01-13 | |
| BUY | 31.690 | John Zechner | They have a new lease on life and have probably come back at the right time. Oil prices have pulled back. There's always risks in airlines. Huge operating leverages. Will probably go higher in the short term. | 2004-12-08 | |
| TOP PICK | 28.900 | Michael Smedley | All debt has been stripped away.On fabulous short term earnings. A good hedge against oil as they earn more on cheaper dollars. | 2004-11-25 | |
| TOP PICK | 23.700 | Michael Smedley | Reconstructed and no debt. Has a billion plus in cash. Seems to be coping with the high fuel costs. A wonderful hedge against your oil stocks. If oil drops, this stock goes up. Forcast earnings multiple of 8 X. Treat as a trading stock. | 2004-10-29 | |
| WAIT | 23.650 | Robert Floyd | Energy prices are a major part of their expense items. Wait to see what the numbers look like out of the restructured Air Canada. | 2004-10-19 | |
| DON'T BUY | 24.800 | Mark Jackson, CFA | Not a big fan of airlines. Capital intensive and cyclical. Fuel costs are high. Can't see a big rebound in the business. | 2004-10-04 | |
Experts that have talked about Ace Aviation Holdings Inc. (B)
