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| DON'T BUY | 394.910 | Lorne Steinberg | Totally tied to consumer spending. Legislation in the states could crimp margins. Had a great run and certainly not a value stock. | 2012-02-08 | |
| TOP PICK | 347.830 | Stan Wong | Very strong global brand. Expecting earnings momentum to continue. Has international expansion. Consumer continues to be very resilient. There is growth in debit and prepaid cards. Trading at about 18X forward earnings. Long-term growth is probably 17%-18%. | 2012-01-26 | |
| PAST TOP PICK | 340.970 | Don Lato | (A Top Pick Sept/10. Up 82.62%.) | 2011-09-21 | |
| PAST TOP PICK | 328.860 | Mike S. Newton, CIM FCSI | (Top pick Sept. 27/10, Up 43.56%) | 2011-09-13 | |
| PAST TOP PICK | 281.350 | Don Lato | (Top Pick May 19/10, Up 39.30%) took profits and switched into Visa. He thinks it has a higher growth prospect than MA. | 2011-05-18 | |
| Comment | 233.510 | Stan Wong | As the economy recovers, credit card companies will do well. Over the past year, it has been quite sideways but as well as up and down. He would suggest looking at Discover Financial Services (DFS-N), which ranks very high in his model with a much better earning profile and earnings momentum.. | 2011-01-13 | |
| BUY | 253.570 | Gordon Reid | Just a transaction company so no credit risks involved. Sold off on the financial regulation bill that was passing in the US but have come back. Can be volatile but will do well in an up market. Expect them to grow their bottom line by 20% over the next 3-5 years. | 2010-11-10 | |
| DON'T BUY | 238.990 | Brooke Thackray | Based on discretionary purchases. You would expect this stock to do well when discretionary does well, but instead you are seeing lower highs and lower bottoms. He would look for it to pull back from here. | 2010-11-01 | |
| STRONG BUY | 232.660 | Don Lato | Regulatory issues have knocked the stock down but expect to easily see the old highs in the next 6 months. Great company with lots of growth. Company is targeting 15%-20% earnings growth. Trades at 14-15 times next year's earnings growth. | 2010-10-14 | |
| TOP PICK | 222.370 | Mike S. Newton, CIM FCSI | US government has an interim bank charge so when they charge merchants, fees will be limited. Stock is down and trading in a trading range because of this. Real story is transformation of global payments and they predict 900 million credit cards in China in the next 7 years. | 2010-09-27 | |
| BUY | 210.180 | Ara Nalbandian | Credit card companies have been extremely weak recently primarily due to US regulatory changes regarding fees. This one gives you more emerging market non-US growth profile. Will be buying back shares. | 2010-09-15 | |
| TOP PICK | 194.400 | Don Lato | Were concerns about FinReg and fees that car companies were going to be able to charge so it sold off and hasn't recovered since. Trading at 14.5-15 times earnings. Still lots of global growth for this company. | 2010-09-08 | |
| BUY | 213.170 | Gordon Reid | Would buy over Visa (V-N) although both are good companies. Both came down in price because of the Financial Regulation bill that is now in front of Congress that creates questions on interchange fees. Thinks this has been over done. | 2010-07-14 | |
| BUY | 219.850 | Don Lato | Came down pretty hard in the last month or so on rumours of changes to interchange fees that are charged. Regulations have since been softened up. Trades at a very reasonable multiple. Prefers over Visa (V-N). A hair less growth but better valuation by 2 points. | 2010-06-23 | |
| BUY | 210.620 | Gordon Reid | Trades at about 14X next year's earnings. New US financial regulation bill could possibly lead to lower use of credit/debit cards. Street reaction has been a little strong. Has less exposure to the debit card than Visa (V-N). | 2010-06-16 | |
| TOP PICK | 202.450 | Don Lato | Stock dropped because of concerns on proposed changes on debit card fees. This was more perception than reality because they don't participate in the debit card fee itself. | 2010-05-19 | |
| Comment | 250.740 | Steven Conville | MasterCard (MC-N) or Visa (V-N)? Both companies are well run. The risk would be the credit situation in the US and it might spill over with the new European crisis. When the stocks hit their lows in 2008-2009 that was a great buying opportunity. They have both been on a fantastic run and not sure you'll make much money buying at its current level. | 2010-05-03 | |
| PAST TOP PICK | 249.600 | Gordon Reid | (A Top Pick March 11/09. Up 69.1% excluding dividends.) Competes very well against Visa (V-N), its major competitor. | 2010-03-10 | |
| PAST TOP PICK | 224.830 | Gordon Reid | (Top Pick Mar 11/09, Up 52.87%) Not as cheap as it was, but still good value. | 2010-02-17 | |
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| BUY | 222.110 | Stan Wong | Very good moneymaking machine. Riding along the 50-day moving average and not falling below it. You could also look at Capital One Financial (COF-N) or American Express (AXP-N). | 2010-02-04 | |
| PAST TOP PICK | 242.940 | Don Lato | (A Top Pick Dec 19/08. Up 58.2% excluding dividends.) Multiple has gone up to 18 X earnings so it's approaching a level where he is starting to get cautious. | 2009-12-09 | |
| DON'T BUY | 197.300 | Ara Nalbandian | A little bit overvalued. Not a compelling opportunity. | 2009-08-19 | |
| DON'T BUY | 204.320 | Paul Gardner, CFA | Trading at 18X forward earnings and 40X price to cash flow. He would prefer about 12X forward earnings. | 2009-08-12 | |
| DON'T BUY | 165.970 | Norman Levine | Visa (V-N) and MasterCard (MA-N) make money on fees they charge merchants. (Also have debit cards in Europe and US but not in Canada.) Transaction oriented companies, so if you think retail sales are going to pick up then you will want to own but if the consumer is tapped out and trying to get out of debt (which he thinks) then you don't want to be there right now. His preference would be towards Visa because of its stronger international name. | 2009-06-08 | |
| BUY | 167.680 | Michael Yoshikami | Between Visa (V-N) and MasterCard (MA-N), MasterCard is the cheaper of the stocks from a valuation standpoint. Both of these companies are in the right spot. There will be a huge increase in the use of debit cards and both companies have a huge position in this area. | 2009-06-05 | |
| TOP PICK | 147.840 | Gordon Reid | The key thing is there is no credit risk. Really a processor of transactions. As we move from a cash society this will get more and more business. | 2009-03-11 | |
| Comment | 155.090 | Hap (Robert) Sneddon FCSI | Stock has held up well and has started to build a base. There is a thought that this type of credit is starting to be used a bit more. Short term moving average was around $148. When it starts to improve, it should get above the short term moving average and then above the long-term. | 2009-02-17 | |
| TOP PICK | 152.340 | Don Lato | Numbers are very, very impressive. Trading at about 14X earnings. Sticking to their 20% earnings growth target for 2009. | 2008-12-19 | |
| DON'T BUY | 213.320 | Pat Naccarato | MasterCard (MA-N) and Visa (V-N) are phenomenal franchises and basically a global duopoly. Not tied to spending but transaction growth. PE multiple for both companies is somewhere in the mid-20s, which is very rich. On a 5-year time horizon, they will grow into that multiple. Would consider buying at a sub-20 PE. | 2008-09-10 | |
| DON'T BUY | 232.000 | Brian Acker, CA | Based on their last quarterly report, his model price is $113.27. This gives a -52% differential. | 2008-08-06 | |
| DON'T BUY | 244.150 | Derek Webb, CFA | A darling of Wall Street since it became public. Their business did well when the economy was accelerating, Consumer is now under a lot of pressure and we are in the early innings on this consumers’ recession. Expect they will continue to miss numbers for quite a few quarters. | 2008-07-31 | |
| PARTIAL SELL | 288.800 | David Baskin | Way overvalued. If you own and haven't taken profits yet, he would take at least half profits at this point. | 2008-05-13 | |
| BUY on WEAKNESS | 293.410 | Cameron Webster | 2 marquee stocks that he is watching right now are Visa (V-N) and MasterCard (MA-N). They have no credit risk. They are transactional-based businesses. The multiples in terms of earnings are a bit rich. Wait for a pullback. If you want global growth, MasterCard would be the better. | 2008-05-08 | |
| BUY | 291.010 | Paul Thornton | A lot of buying by big money has been going into this company. A benefit they have is that they don't carry the possible default risk. Up nearly 6X of the original IPO price. Could pull back in the short term, but long-term it looks like a big winner. Mutual funds will continue to accumulate this stock. If you own, continue to Hold. | 2008-05-07 | |
| DON'T BUY | 237.390 | Duncan Stewart | Pricing on this is quite high. Had a spectacular run. One of his big concerns is its ability to control fraud going forward. If fraud goes too high, there would be less use of credit cards. | 2008-04-25 | |
| TOP PICK | 184.870 | Paul Thornton | Has only been on the stock market for about 1.5 years and ultimately, virtually every mutual fund in the US will have to have some position in it. Has been in a strong uptrend and recently merged from a range and held its ground near its high during the market correction. A sign of strength. | 2007-11-16 | |
| DON'T BUY | 189.475 | Brian Acker, CA | This company requires no capital to operate. It just collects royalty fees. Came out with huge earnings today. He had a model price of $175 prior to this. A year from now his model price is about $202. However, he does not have the positive earnings estimates that he needs for his calculations. | 2007-11-01 | |
| BUY on WEAKNESS | 95.750 | Paul Harris, CFA | As an overall investment is very good. Not necessarily cheap. Economy is not slowing down excessively and people continue to move in the direction of using plastic. Good long-term story. May be able to Buy cheaper. | 2006-12-12 | |
| DON'T BUY | 98.990 | John O'Connell, CFA | Sees a slowdown in the consumer being able to finance things. The housing market and the economy in general is slowing down. This affects the default rate of credit card companies. Would prefer Bank of America (BAC-N) or Citigroup (C-N). | 2006-11-27 | |
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| BUY | 87.600 | Jeff Parent B. Eng. FCSI | Did a consolidation and break out in August. Had a nice steady move up, consolidated and is now in another move up with good volume. | 2006-11-02 | |
| PAST TOP PICK | 340.970 | Don Lato | (A Top Pick Sept 8/10. Up 82.62%.) Still cheap enough to Buy. | 0000-00-00 |
