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Compiling comments that experts make about stocks while on public TV.

Recent Opinions

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Date Signal Company Expert Opinion Price
2017-09-19 N/A A Comment -- General Comments From an Expert
A Commentary
Nick Majendie

Market. Last year, Canada was the best performing of all the developed nations in terms of our equity market. This year it is very definitely the other way. The big question is, where do we go from here. He is optimistic on the Canadian market over the next 6-12 months, principally because he is convinced we will see an improvement in oil prices that will help the energy sector. If you adjust for the change in our currency, performance has been just about the same to a Cdn$ investor as the S&P, despite the TSX lagging the S&P 500. Thinks we will see definite signs of the oil market tightening in the 4th quarter, and can see it hitting $60 in the next 6 months. Some of the numbers in the US are understated, and are constantly being revised. A very critical point was yesterday when Brent demonstrated backwardation for the 1st time since 2014, which means hedge funds will begin to look at taking long positions if that continues. He likes Canadian bank stocks very much, and is overweight in them. Results have been very good year to date. They are cheap relative to US banks, and represents good value.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: _N/A
2017-09-19 HOLD Agnico-Eagle Mines
AEM-T
Nick Majendie

He really likes management. They’ve done an excellent job over the last number of years of increasing production per share and cash flow per share, largely from internal organic growth. Has a good growth profile over the next 5 years. His only problem is that valuation is relatively quite high at the moment, although it deserves it. (See Top Picks.)


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Unknown
2017-09-19 BUY Algonquin Power & Utilities Corp
AQN-T
Nick Majendie

Canada has done an extremely good job of acquiring companies in the US in the utility sector. Something like 70% of this company’s earnings comes from the US. Management has done an excellent job. They have a target of increasing their dividend 10% per year over the next 5 years, and possibly longer. Dividend yield of 4.6%.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Yes
2017-09-19 PAST TOP PICK Brookfield Infrastucture Partners
BIP.UN-T
Nick Majendie

(A Top Pick Sept 21/16. Up 28%.) Just did an equity issue because of a huge backlog of projects, about $2.5 billion. If he had to pick one stock to own over the next number of years, it would be this. They increased their dividend over 10% for the last 8 years, and expects they will continue to do that. The #1 infrastructure stock globally. Dividend yield of 4.1%.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Yes
2017-09-19 BUY Bonavista Energy Corp
BNP-T
Nick Majendie

Management has done a very good job of concentrating assets in their 2 key areas. Had some nervousness over the balance sheet, but that is improving. He is a little more bullish on oil, than natural gas, but he would buy this today. (See Top Picks.)


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: No
2017-09-19 BUY Bank of Nova Scotia
BNS-T
Nick Majendie

Hurricane impact? In the International segment, which represents just over 30% of their earnings, the Caribbean is actually quite small. The biggest exposure is Jamaica, which he doesn’t think was particularly hit. He wouldn’t be unduly concerned. He likes this bank very much at these levels.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Unknown
2017-09-19 BUY Canadian Imperial Bank of Commerce
CM-T
Nick Majendie

He would recommend this at these levels. The average multiple tends to be just short of 12X earnings for the banks. The acquisition in the US was a good move. Over time, it will make investors feel more comfortable that there is some diversification out of Canada. Feels there is some room for multiple expansion. Dividend yield of 4.9%.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Unknown
2017-09-19 HOLD Canadian Natural Rsrcs
CNQ-T
Nick Majendie

Suncor (SU-T) or Canadian Natural Resources (CNQ-T)? Both companies, relative to the other stocks in the energy index, have performed pretty well. From this point on, he likes both, and is hard-pressed to tell you which one he would choose. Both have very good growth profiles. This one has made acquisitions recently. They are both very good on M&A on an opportunistic basis. Their balance sheets have been improving steadily. Because they have both held their ground so well, there are better opportunities in some of the intermediate space, in terms of capital gains.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Yes
2017-09-19 COMMENT Canadian National R.R.
CNR-T
Nick Majendie

His preferred choice in rails, and his biggest investment in that sector. They have a tendency to outperform their guidance, and thinks they will do it again this year. Very strong cash flow growth. Good operating ratio performance. Because of the free cash flow growth, the dividend keeps constantly being increased.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Yes
2017-09-19 HOLD Crescent Point Energy Corp
CPG-T
Nick Majendie

Had owned this, but sold it at around $17 earlier this year. He was concerned about oil prices. Investors are really being careful about having good balance sheet companies. If you have some optimism on oil prices as he does, he would probably hold onto this. It has been a little unpopular with institutional investors because of all their acquisitions. There are better stocks around if you want to buy one. Dividend yield of about 4%.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: No
2017-09-19 PAST TOP PICK Enbridge
ENB-T
Nick Majendie

(A Top Pick Sept 21/16. Down 9%.) Out of favour and is not quite sure why. During this time, they did the Spectra merger. Looking at all the major energy companies globally, including infrastructure, this is now the 8th largest. It is the largest energy infrastructure in the US. Now is a very good time to be picking it up. Dividend yield of 5%, and they have a growth target of 10%-12% a year for the next 8 years. The bulk of their cash flow is covered by long-term contracts.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Yes
2017-09-19 COMMENT Fortis Inc.
FTS-T
Nick Majendie

He likes this very much. They’ve done a great job in making acquisitions in the US. This is one of the dividend aristocrats of Canada. Thinks they’ve increased dividends 42 years in a row. It is not all that expensive, and is a great, long term investment.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Yes
2017-09-19 DON'T BUY Goldcorp Inc
G-T
Nick Majendie

This has been suffering. Selling at its relative valuation, a discount. A bit of a “show me” stock at the moment. Thinks management has a very good long-term plan, but investors are kind of sceptical in the short term. There are better purchases right now. (See Top Picks.)


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Unknown
2017-09-19 COMMENT Inter Pipeline
IPL-T
Nick Majendie

Has been out of favour and is the one pipeline he doesn’t own. In the short term, it has limited growth prospects which will impact the dividend growth potential. On a 1-year basis, it doesn’t look particularly attractive relative to a Pembina Pipeline (PPL-T), an Enbridge (ENB-T) and a Trans Canada (TRP-T).


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: No
2017-09-19 COMMENT Manulife Financial
MFC-T
Nick Majendie

Stay with Manulife (MFC-T) or go with Toronto Dominion (TD-T)? Currently prefers banks to the lifecos. Of the 2 major Canadian lifecos, he prefers Sun Life (SLF-T), which has more consistent earnings growth ahead of them. Manulife has just changed CEOs, and thinks the street will wait to look at the execution and changes in strategy in the next while.


Price: $0.000
Subject: CANADIAN LARGE
Bias: CAUTIOUSLY OPTIMISTIC
Owned: Unknown
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