STOCKCHASE

Half of this is transportation such as big railcars and a lot of this business is in Europe. Also this tends to be lower margin. The other half is aerospace for business jets and commercial jets. There hasn't been enough C series orders coming through. Like to see more orders coming through.

2012-02-08

WEAK BUY

4.750

China might buy part of business and stock is up. It is a bet on recovery on airline business.

2012-02-07

HOLD

4.480

Bill Carrigan

Chart shows a low in 05 followed by a higher low in 09 and another one in 2011. This is an upward trending channel. Trying to break out. If you believe the recovery is real, you can Buy. Has to reach $5 to really get it going.

2012-01-27

WAIT

4.500

Laura Wallace

C-series ins in the high risk period as they try to pricing it into production. She wants to wait until it all unfolds before buying.

2012-01-12

SPECULATIVE BUY

4.160

Michael Smedley

Down and dirty. For contrarian portfolio, this could be an important component. Have mighty rail contracts with thin margin and occasionally executive jets and then the larger jets.

2012-01-10

TOP PICK

4.160

Bill Carrigan

The big fundamental story with this is that you are getting the rail side and the aerospace is just thrown in for free. Like the industrial space. A Canadian multi national that has global exposure.

2012-01-06

DON'T BUY

3.590

John O'Connell, CFA

Balance sheet has always had too much debt for his liking. The big wonder has been on the wonderful contracts of all the planes and trains were going to be able to sell to China, but the fact is, that in the joint venture that they have, the Chinese get a pretty good deal. Doesn't see a lot of contracts for planes and trains in Europe.

2011-12-08

DON'T BUY

4.050

Jeff Parent B. Eng. FCSI

Had quite a downturn from $7, all the way down to $3. There was encouraging news today and the stock a nice little rally. You want to see it develop a bit before buying. Will probably trade in the $3.80 to $4.25 level for the next couple of months. If they can break about that, it will move slowly to the $4.50-$4.60 level. He would look for other stocks.

2011-12-02

SPECULATIVE BUY

3.780

Greg Newman

In the near future, this could be your classic risk on trade. If Europe is getting better and the grand plan is coming in, this could have a real pop. Has been a victim of tax loss selling. Likes it for a trade into the new year.

2011-11-30

DON'T BUY

3.810

Mike S. Newton, CIM FCSI

With this one, you will constantly be faced with the whole global economics. They are big purchases and are typically being done by cities, municipalities and governments. Everything fundamental looks good on this but he doesn't think we are there yet.

2011-11-28

HOLD

4.110

Gavin Graham

Cyclical stock. People are buying fewer planes, especially things like private jets. They seem to be getting orders for the C100 finally. It is a necessity to replace the aging fleets.

2011-11-18

BUY

4.380

Richard Fogler

2 businesses, trains and planes. Train business is very good and is worth more than the present stock price. Plane business is good but it is slower because of the economy and the C series, which is slow to get orders. C series is the plane of the future. Cheap but will take a while.

2011-11-14

Comment

4.190

David Baskin

Selling lots of trains but they don't make that much money on this. The big question is, how many of their C series airplanes are they going to sell. Seems to be less than the market would hope. Would prefer the preferreds and common bonds.

2011-11-10

Comment

4.190

Keith Richards

Starting to form a little bit of a base after a down trend and is very much trying to break that base. Looking very interesting and there is a pretty decent chance if it breaks.

2011-11-09

SPECULATIVE BUY

4.310

Is a speculation. You could take a small position. Have the overhang of the ‘C’ series. The market that it addresses is not big enough o make it viable long term. He would not touch it.

2011-11-08

Comment

4.250

Preferred D shares. Dividend of 7%+. Moves up and down with the common share stock price.

2011-11-07

DON'T BUY

4.050

Jeff Parent B. Eng. FCSI

His rankings show it as a Sell in pretty much every category you could look at. The little rally that just occurred is not really significant. Looks like it will head below $4 in the next couple of months.

2011-10-14

DON'T BUY

3.840

Lyle Stein

Got smashed like many industrial type product companies. They need increasing margins. Transportation equipment is holding up, but there are some question marks about the margins in aerospace. 3% yield.

2011-10-05

WEAK BUY

4.030

Veronika Hirsch

It’s cheap enough to own. It is not one of the their favourite stocks. Thinks this is a growth sector. The demand for all kinds of planes will be there. Sell it out $2 higher.

2011-09-23

WAIT

3.990

Greg Newman

Another one that is in the eye of the storm. Most recent announcement was a negative one. Thinks their margins are going to be reduced and reduced their target. Believes their rail business alone is worth $3.50 so they do like it down here. Wait and see where markets wind up.

2011-09-22

DON'T BUY

4.210

Lorne Steinberg

Doesn’t like it and would not own it because of the dual class share structure. They are facing a coupe of issues: leverage and C series many not get enough support to come out with it. Airlines are having a touch time right now.

2011-09-20

BUY

4.260

Mike S. Newton, CIM FCSI

Likes it. It’s a larger macro issue on whether et orders will be there but people around the world are building out their transportation infrastructure.

2011-09-13

HOLD

4.450

Ron Meisels

Below 40 week moving average. Important $4.50 support level. We may have a rally but put in a stop loss at $4.35 and hold it.

2011-09-06

WAIT

4.770

Ross Healy

Had a huge write down due to conversion to IFRS. Left the company hung up at 6 times book value. Downside target of $4.

2011-08-31

WATCH

4.880

Right now, he thinks it is a “show me” business. He would like to see additional orders in the C series first.

2011-08-18

DON'T BUY

5.540

Aerospace and transportation, half and half. On transportation, they have been garnering orders, mainly in Europe primarily for infrastructure. On the Aerospace side, she needs to see more orders on the C series. Getting more competition. (See Top Picks.)

2011-08-02

Comment

5.540

Michael Decter

Make trains and planes and trains are good for cash flow, but lousy margins while the planes have good margins but not good cash flows. You rarely get a market where they are selling big volumes in both trains and planes at the same time. If you are going to own it, be in it for a short pop only your it

2011-08-02

WEAK BUY

5.750

Veronika Hirsch

Getting to the point where it looks like it is a trading buy. She is not a huge fan. They have had a bunch of poor news. Governments have lots of debt and are restricted in spending and a lot of this company’s products are government-funded. It will be a while before they have sufficient orders on the new plane to start production.

2011-07-27

DON'T BUY

5.750

Norman Levine

Has not been a fan as their balance sheet is extremely levered. Transportation side has been doing well but there is uncertainty because of what has gone on in China recently. Also uncertainty in the C series.

2011-07-27

TOP PICK

5.940

Stock has pulled back about 14% over the last 2-3 months. Headline risk in that Boeing (BA-N) announced they were going to re-engine some of their 737s so market now questions if their C series planes are going to sell as many as they originally thought. This is an opportunity. Expects very good earnings growth over the next several years. Target is conservatively $7.

2011-07-26

WEAK BUY

5.940

Michael Sprung

Has come off a bit recently – reaction to train wreck and reaction to ‘C’ series sales levels. Also, close of mass transit plant in UK. Prefers CAE. BBD has some upside potential from here.

2011-07-26

Comment

5.940

John Zechner

Doesn't see the dividend growing because they don't have a lot of excess cash kicking around. With the C series developing they don't have much excess cash. Stock has come under pressure with the train accident in China.

2011-07-25

PAST TOP PICK

6.120

Richard Fogler

(Top Pick Apr 14/11, Down 11.96) Problem is the ‘C’ series. Orders aren’t going to come until it is ready. He is pretty happy about this one.

2011-07-22

DON'T BUY

6.760

Brian Acker, CA

Sold his holdings in this company. New IFRS reporting eviscerated the balance sheet. This now has a book value of $1. His model price is $5.95, a negative 12% differential. He would like to see their balance sheet begin to grow.

2011-07-08

DON'T BUY

6.950

Don Vialoux

This stock has a history of moving higher from around April through to the Paris air show, normally until July. Unfortunately, it has a history of being flat or slightly lower after the air show is over. Can’t see it breaking above its trading range for a while. In the next 3 weeks, if he gets to the top of its trading range, take your profits.

2011-06-30

BUY

6.690

Ranks quite well in his system in terms of growth metrics. Thinks we are in the news cycle in aerospace. Beat their earnings in June. Technically it is one of the more sound names in the TSX. Pays a small dividend. Trading at about 15.3X forward earnings.

2011-06-22

Comment

6.920

Half aerospace and half transportation. Transportation has done quite well garnering contracts in Europe and improving their margins. On the aerospace side, have been getting orders on business jets. On the commercial side they need more orders on the C series (See Top Picks.)

2011-06-20

TOP PICK

6.980

Bill Carrigan

Likes global industrials. This is one of our few Canadian global multi-nationals. Chart is fabulous. Recently had a flat correction, which is very bullish.

2011-06-17

HOLD

6.950

Terry Shaunessy

Good company that serves the world markets. Continually doing well on the rail side and expects to see more and more on the rail side. It is the private jets that will it give it a lift. Demand for private jets will continue to grow, particularly in Asia.

2011-06-01

BUY

6.870

Thinks there's a new cycle in the aerospace industry where we are going to start to move up. Earnings beat estimates. Yield of about 1.5%.

2011-05-12

PAST TOP PICK

6.690

(A Top Pick April 12/10. Up 27.4%.) Still buying. Outlook for aerospace business is looking like it is getting better and the transportation is also very strong.

2011-05-11

DON'T BUY

6.690

Ara Nalbandian

Signing incredibly strong contracts on the transportation side. Aerospace side is starting to see a turnaround. Business jets inventory is starting to get worked down. Making a significant investment in their C series to compete against Boeing and Airbus. An ambitious goal. Wait to see better orders on the C series.

2011-05-11

DON'T BUY

6.840

Brooke Thackray

Recently came out with some fantastic earnings and had a huge pop but from a seasonal perspective, he would be looking at it as economically sensitive.

2011-05-05

TOP PICK

6.890

Richard Fogler

Love the prospects. You get the train business for free and the aerospace business is booming.

2011-04-14

WEAK BUY

6.300

Half aerospace and half transportation. A good company and will do well over the next 5 years. Aerospace is starting to ramp up. The transportation side is not high margin. She prefers Boeing. Doesn’t think dividend will increase over the next couple of years. You need to see more ‘C’ series orders.

2011-03-30

Comment

6.330

Mohsin Bashir

Large CapX in their aerospace division, particularly in the C Series jets. Facilities both in Belfast and China. Doesn’t expect a dividend hike until there are significant orders on their C Series. Book to Bill orders has been dwindling on this jet. Transportation side is going very well.

2011-03-28

DON'T BUY

6.420

Lorne Steinberg

Used to have terrible balance sheet problems. They’ve always had a lot of debt. Dual class structure means that only family has the vote.

2011-03-25

WAIT

6.130

Hap (Robert) Sneddon FCSI

Until C-7 series issue is resolved, he is waiting. It is going to do nothing until then. They need to announce a big contract with someone on the C-series.

2011-03-14

Comment

6.660

Michael Sprung

Just got a large plane order (50 business jets with options for another 70) from Net Jet in the US. Stock was depressed last year because they didn’t sell as many jets as had been expected. A lot of analysts have an $8 target for the stock. Multiples are too high for him but he does own some of their preferreds. If you are a long-term holder you could Buy.

2011-03-03

HOLD

6.270

Short term (3-6 mo.) It looks a little bit over extended and could pull back. Early ’10 high was a resistance level, which we are approximately at. It could just means it stays here for some time, rather than pull back.

2011-02-08

DON'T BUY

6.220

Had a very good run and is fully priced. Likes the transportation business with infrastructure on subways, trains, etc. Not positive on the aerospace side which is quite volatile.

2011-02-04

BUY

5.500

Industrial is a cyclical space where you probably want to be if you feel the economic recovery is going to continue. Still has strong long-term annual earnings growth forecasts at about 20%+. Corporate jets are probably a little later in the cycle. Increasing focus into emerging markets is a positive sign. Good for a 2-3 year outlook.

2011-01-13

BUY

4.820

Owns through preferred shares primarily. Yield while he waits. Well managed. Bet on regional jets and can they compete against Boeing and the Airbus with the ‘C’ series. Corporate jets are coming back quite nicely. There is talk of Boeing and Airbus discounting the ‘C’ series category of jets.

2010-12-21

WATCH

4.800

This one depends on what happens to the C-7 series, which is still up in the air. Likes the way they have been increasing penetration in rail and rail equipment. Recently bought into a Russian electric-signal company. Wait to see what happens to the C-7s.

2010-12-15

Comment

4.770

Michael Sprung

Extremely volatile stock. Airbus 320 announced they were going to put some newer engines to get more fuel efficiency. This would make a C series jet less compelling. Buying under $5 is a fairly safe bet if you hold onto it long enough because of the wide price fluctuations. You could also consider some options.

2010-12-01

Comment

4.900

Rails continue but at a very low margin. Business jets are picking up, which will be very helpful. The wild card has to be the C7s. Until there is some clarity on that, he will stay on the sidelines.

2010-11-16

WEAK BUY

5.040

Brooke Thackray

Just recently announced the long-range aircraft. Solid backlog. Equally split between trains and planes. Will move with economy. From a seasonal perspective it should do well this time of year. Expects it to do better. It corrected itself earlier in the year. Doesn’t expect huge gains. Sell at $6.50. C-Series – if a whole lot of orders come in, great, but otherwise it is an overhang. They are trying to get into emerging markets with planes that can fly further.

2010-11-01

SELL

5.050

Steven Conville

(Market Call Minute) Doesn’t understand how this company operates. If you made money run for the hills.

2010-10-15

DON'T BUY

5.180

Classic company o a Canadian company servicing a worldwide market and is something he looks for. Margins are razor thin. Needs to see how the C series performs.

2010-10-12

BUY

5.170

Barry Schwartz

Preferred Share: Has a risk if interest rates go higher. Company does not have to call this perpetual preferred share ever. Nice yield. Great long-term asset with high interest rate.

2010-10-05

DON'T BUY

4.860

Mike S. Newton, CIM FCSI

On conference calls they have talked down everything. Orders are lower by 15% and outlook is down by 15% so he expects the next stock move may be down or sideways.

2010-09-27

DON'T BUY

4.880

Benj Gallander

Would like to see it cheaper. There are a lot more companies that are of greater interest to him than this one.

2010-09-17

TOP PICK

4.880

Ara Nalbandian

Transportation side is doing well and they keep adding contract wins. Expects the catalyst will be from the aerospace side, specifically the C series that is under development. Targeted to launch in 2013 and will be a significant driver on their free cash flow generation.

2010-09-15

Comment

5.040

Have done a good job on the rail side and margins are starting to improve. Business jets seem to be coming back somewhat in the US. Regional jets are the question mark.

2010-09-09

DON'T BUY

4.460

An attractive entry point. They are getting orders and she likes the infrastructure play. They have lower margins, but will try to bring it up over the next couple of years. Could be FX headwinds because they report in US$. Needs healthy economic environment for jet business to increase. Wants to see more orders for the ‘C’ series.

2010-08-23

Comment

4.740

Great Canadian company that fits his criteria of being locally based and selling globally. Rail side is successful although a very low margin business. Would like to see the C-7 series firmed up plus a revival of the private jet business.

2010-08-12

WEAK BUY

4.850

The ‘A’ has 10 votes, the ‘B’ has one. Many fewer ‘A’ shares than ‘B’. ‘B’ is much more liquid. ‘C’ series is quite critical to their business.

2010-07-22

Comment

4.780

Don Lato

“A” shares versus “B” shares? B shares have one vote per share while the A shares have 10 votes per share. Since both prices are so close to each other, if you buy gold for the A shares because of the extra votes you get.

2010-07-21

DON'T BUY

4.650

Barry Schwartz

Doesn’t like stock. Profit margins are too thin and they will get crowed out. Hold bonds and preferred.

2010-07-20

Comment

4.430

Michael Decter

Have a delivery date for their C series airplanes and he expects a lot of sales for them over the next 10 years. Trains are doing well but he'd like to see them both hitting on all burners.

2010-07-19

DON'T BUY

4.430

Mark Carpani

High Yield Bond so there is a little more risk attached to them. BB rated indicating the cash flows are volatile and uncertain. The bad news today certainly didn't help them. Expect the aerospace sector is going to be very challenging over the next couple of years. Rail side would be little more bullish. Not too big to fail.

2010-07-19

HOLD

4.990

Don Vialoux

Seasonality usually starts around March and continues through until mid-July when the Paris and Farnborough air shows are on. Recently stock has not been acting very well but starting to see indications of support. You may want to get out prior to the actual shows themselves.

2010-07-02

WAIT

4.830

Hap (Robert) Sneddon FCSI

Likes it, but until we see the C-7 there will be a cloud overhanging them. The rail contracts are a very low margin business. It’s on his watch list.

2010-06-15

SELL

4.750

Pretty good trend line and then it broke it. You could see $4.30. You may have to live with some volatility. There may be some better places for that infrastructure play.

2010-06-04

BUY

5.030

Jim Huang

3 parts. Regional jets, which competes with Embraer of Brazil. Includes the new C series jet and expect they will end up with a big contract. Business jets took a hit but the cycle will probably be turning in his very profitable. Trains are doing very well. A lot of earning power may take a while.

2010-05-21

DON'T BUY

4.870

Ross Healy

Despite all the good news the company keeps issuing, the fair market value and earnings forecasts keep slipping. Trading at a very critical juncture of $5-$5.50 and if it goes through there, there could be another 25% on the downside.

2010-05-20

BUY

5.520

He owns the preferreds. The rail side is doing quite well, margins are rising. Aircraft side is waiting for the economy to turn around.

2010-04-20

TOP PICK

5.500

Pulled back after the aerospace business disappointed making it an opportunity. Transportation side still delivers very good margin improvement. Extremely good backlog. Could get as high as $6.50.

2010-04-12

DON'T BUY

5.960

Jim Houston

Glory days of 1990s are gone and not coming back. Rail revenues are low margins and difficult to raise because it is usually state run railway companies they deal with. This represents 50% of overall revenues. Airline side is cyclical. C series is a positive development and they have orders for 90 of them but not enough to justify long-term growth.

2010-03-25

DON'T BUY

5.790

Barry Schwartz

Trains and planes business has been better recently. They keep announcing some really good contracts. Very thin margins on train contracts. Preferred shares are attractive and he owns some of their debt.

2010-03-24

BUY

5.830

Andrew McCreath

Solid company that has had an incredible turnaround in the last 10 years. Best way to play the secular theme of passenger train business.

2010-03-22

HOLD

5.870

Have been making some pretty spectacular deals over the last couple of months. Not a bad longer-term buy. If it got near $7-$8 he would start edging out of the stock.

2010-03-19

BUY

5.690

Over long term there will be upside. He owned last year so he took profits. It’s grown its earnings but the stock has not done as well, so now might be the perfect time to buy it.

2010-03-05

BUY

5.690

Good news with the C series and the train contract. Contracts don’t come in until a couple of years out. They need orders for the plane. A lot of cash flow is going to be put into the development. Everything is moving in the right direction. You need a longer term view.

2010-02-26

STRONG BUY

5.690

Owns a lot of the preferred shares, not so much of the common. A difficult company to analyze, but is a very solid business. Just landed a large contract in France.

2010-02-26

VAGUE

5.870

David Baskin

Terrific business in trains. If Canadian dollar goes to par, contracts become marginally profitable. A big order came in from the airline industry.

2010-02-25

BUY on WEAKNESS

5.440

Ara Nalbandian

Transportation side continues to exceed expectations. Looking for a pull back to buy a position. Fundamentals are moving in the right direction. Low $5 range. It’s just a little ahead of itself.

2010-02-16

HOLD

5.430

Lyle Stein

In Client accounts and he keeps looking at it for the funds. It’s a great place to be for the investment. Rail business is slow but steady margins. Huge backlog. The wild card is the aerospace business, but it will come back. Once they announce the ‘C’ series the stock should move. Longer term it is something to look at.

2010-02-12

TOP PICK

5.450

Andrew McCreath

Believes there is a secular theme towards railways and he wants to own the companies that are making the trains.

2010-02-05

BUY

5.290

Industrial space can do well if we continue on the path of an economic recovery and he likes the space. Charts look very strong floating along the 50-day moving average. Prefers Boeing (BA-N).

2010-02-04

BUY on WEAKNESS

5.140

2 primary divisions, transportation and aerospace. Aerospace has been challenged but the transport side has been very stable and a significant cash flow generator. Have been winning new contracts. The Obama administration announcement of an $8 billion plan to build a new high-speed rail line could have a positive impact. Reasonable multiple at 12X earnings. He would like it at $4.50.

2010-01-28

Comment

5.100

Takeover target? Dual class shares so doesn't see a takeover. Has recently been looking at this. Owns the preferreds. If he saw the airline side starting to perk up, he would be more interested.

2010-01-21

HOLD

5.180

Revenues are growing in the transportation side because of infrastructure spending the margins are thin. Having trouble on the aerospace side. Getting cancellations on regional jets and business jets will probably suffer for a couple of years.

2010-01-08

HOLD

4.800

Laura Wallace

Looking at this closely. Good infrastructure play. Chinese and French orders point to this company’s advantages. A little expensive at the moment but a longer-term basis it is well positioned to benefit from capital spending coming out of the developing world. Poor demand on the aerospace side offsets this. If you own at a lower price, consider taking some profits.

2009-12-31

DON'T BUY

4.760

Steven Conville

(Market Call Minute.) Any time he has ever bought this one he has lost money. Not a fan of airlines.

2009-12-18

BUY on WEAKNESS

4.770