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| BUY | 5.760 | Ben Cheng | Envelope manufacturer. Won't be robust growth but he likes it. Pricing stability for their product. Fairly consistent cash flow. Will probably be one of the higher tax trusts going into 2011. Good value. | 2008-09-24 | |
| HOLD | 5.880 | Michael Simpson, CFA | (Market Call Minute.) Largest envelope manufacturer. Payout is quite high so wouldn't buy. | 2008-09-19 | |
| BUY | 5.660 | Michael Simpson, CFA | One of the largest envelope manufacturers in Canada. Being impacted by the very strong Cdn$. Getting more US competition and there is a reduction in volume. Even if distribution was cut 15%, it would not be a problem. Good operators. | 2007-11-08 | |
| Comment | 7.000 | Ben Cheng | Move in the Cdn$ has put pressure on the stock. Going forward, the Cdn$ has pretty much seen its peak. This is important for them as their competitors are all based in the US. | 2007-09-05 | |
| TOP PICK | 9.750 | Andrew Guy, CFA | Manufactures highly specialized envelopes. 55% market share in Canada. Just made an acquisition. Very focused on reducing costs. | 2007-05-25 |
