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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
2017-02-22 TOP PICK Cinemark Holdings
CNK-N
Jerome Hass

*Long* A pairs trade with Cineplex (CGX-T). This is about twice the size of Cineplex in terms of their screens.


Price: $43.390
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Yes
2017-02-22 HOLD CRH Medical Corp.
CRH-T
Jerome Hass

This tends to be a serial acquirer, and he generally doesn’t like these. However, in this case he likes management and feels they are very competent.


Price: $8.570
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: No
2017-02-22 COMMENT Canadian Western Bank
CWB-T
Jerome Hass

Has a long term Short on this. Looking back to the last downturn in 2008-2009, it took 17 quarters for them to get back to pre-recession provisioning levels. The current downturn in Alberta has been a lot longer and more protracted, so thinks the time horizon for provisions will probably be even longer than 17 quarters and doesn’t think the street is factoring that in.


Price: $30.410
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Yes
2017-02-22 PAST TOP PICK Currency Exchange Intl.
CXI-T
Jerome Hass

(A Top Pick Feb 8/16. Up 20.45%.) Got their Schedule 1 license as a bank in September. Unfortunately, when the results came out in early January, people were looking for immediate benefits, but it normally takes 3-6 months to see the benefits. He still really likes this.


Price: $26.990
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Yes
2017-02-22 COMMENT Concordia Healthcare
CXR-T
Paul Macdonald

If looking to be exposed to all the positive attributes about global healthcare, this is not a company he would be focusing on.


Price: $3.070
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Unknown
2017-02-22 HOLD EnerCare Inc
ECI-T
Jerome Hass

A name he really likes. This has a 9.1% EBITDA for 2017. Yield is about 5%. They made an acquisition last year on the HVAC servicing side. It was fortunate that the summer was so hot last year. There are still potentially some costs synergies to take out of that. The part he really likes is their sub metering business, a growth business that is not getting any credit from the street.


Price: $18.790
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Yes
2017-02-22 DON'T BUY Electrovaya Inc.
EFL-T
Jerome Hass

Last summer the company was talking about sales execution of $350 million from 2016 to 2018. He questioned that. They were about a third of the way through their fiscal year and were predicting executed sales of $180 million. First-quarter results came in with only $1.1 million. In November, the OSC put the company under a disclosure review, and so they had to put out a press release rewording the press releases. Also, had to amend their annual information form. Expects there may be a further delay in the roll-out of their mass production. He calculates they are sitting on 4 years’ worth of inventory from their German plant that they acquired. Thinks they are going to have to do an equity issue and there is going to be dissolution of some existing shareholders. There are better places to put your money.


Price: $2.430
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Unknown
2017-02-22 COMMENT Drone Delivery Canada Corp
FLT-CN
Jerome Hass

This has a deal with Staples and NAPA auto parts, as well as talking to a Canadian courier company. The main problem is that Canada and the US have not really defined what the rules are going to be for drones. In Canada, you can only fly a drone within your line of sight, but that will change. Feels this company probably has the “first mover delivery” advantage to getting a license.


Price: $0.000
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: No
2017-02-22 COMMENT Gilead Sciences Inc.
GILD-Q
Paul Macdonald

This is the company that found the cure for hepatitis C. It has been a very challenging stock to own, and very much a value trap for the past couple of years. They are seeing price pressures and competition from many competitors over the next year on hepatitis C. They have cut their guidance sufficiently that they can meet it. A great balance sheet and are buying back tons of stock. An OK dividend. Thinks they have some hidden assets in their Nash portfolio and expects to see some results towards the end of the year. He uses covered call strategies to help generate some extra income.


Price: $68.830
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Yes
2017-02-22 COMMENT GMP Capital Trust Inc
GMP-T
Jerome Hass

He still likes this. Prefers the preferred B shares as opposed to the common, but likes them both. Given what has happened in the rebound in oil/gas, this is probably one of the most leveraged plays on the street having recently bought FirstEnergy. On top of that, the Wealth Management Group put themselves up for sale in the fall, but some of the costs they had when they took over the McQuarrie group are now coming off the books, so he thinks profitability of the Wealth Management Group is going to go up.


Price: $4.190
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Yes
2017-02-22 COMMENT GlaxoSmithKline PLC
GSK-N
Paul Macdonald

He likes this and their diversified business line. They’ve got vaccines, pharmaceuticals and their consumer health. Their pipeline tends to be a little bit earlier. Advair does end up as a generic this year, and have fully indicated that in their guidance. The upside could be if we don’t see that generic hit the market this year. There have been some delays in other generic hitting the market. That would be pure upside. Good yield.


Price: $41.030
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Yes
2017-02-22 TOP PICK Home Capital Group
HCG-T
Jerome Hass

*Short* A very crowded short, and he generally doesn’t like to participate in crowded trades, but makes an exception in this case. There are a lot of Shorts on this, because the US hedge funds use it as a proxy for the Canadian housing market. His view is actually quite neutral on the Canadian housing market. There is a lot of runoff in their portfolio, so just to stand still they have to get at least 14% growth in terms of their number of mortgages. This is because banks have gotten smarter at catering to new immigrants to Canada. Dividend yield of 3.91%. (Analysts’ price target is $29.73.)


Price: $26.260
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Yes
2017-02-22 COMMENT Healthcare Leaders Income Fund
HHL-T
Paul Macdonald

This is his company’s fund. It hedges its currency and has 20 large cap global healthcare companies. One of the greatest risks in the market right now is individual stock risk.


Price: $8.290
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Yes
2017-02-22 COMMENT Johnson & Johnson
JNJ-N
Paul Macdonald

Their consumer line is very small on a relative basis, sub 10%. The company is fully diversified. A $325 billion market cap. You are paying a little bit lower than a broader market multiple. They have the ability to really commercialize a drug. Their recent acquisition of Actelion sounds like it is earnings accretive slightly this year and above market growth next year, with greater exposure into the lung market.


Price: $119.520
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Yes
2017-02-22 COMMENT McKesson Corp
MCK-N
Paul Macdonald

One of the top 3 distributors of drugs in the US. A very high volume, low margin business. They indicated they were transitioning into the retail side by acquiring 2200 retail pharmacies in Europe as well as IDA in Canada. They are exposed to the generic drug pricing, so he opted to stand on the sidelines.


Price: $149.050
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: No
2017-02-22 COMMENT Medtronic Inc
MDT-N
Paul Macdonald

This has everything you can think of that is tools related, from your head all the way down to your toes; cardiovascular, stent. The dominant player in medical technologies. Trading at 17X next year’s earnings. Had a hiccup last quarter, but all they had to do was show that things were back on track. He likes this.


Price: $79.620
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Yes
2017-02-22 PAST TOP PICK Merck & Company
MRK-N
Paul Macdonald

(A Top Pick June 22/16. Up 16.19%.) The one thing he liked about this was the diversified pipeline, but really it was their immuno oncology drug that has been the front runner.


Price: $65.290
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Yes
2017-02-22 TOP PICK Merck & Company
MRK-N
Paul Macdonald

This company has the Mojo right now. Their drugs are definitely working. They have the first-line treatment in very specific lung cancer. Has a huge pipeline of trials going on with Keytruda. He continues to think immuno oncology is fast growing and that there is going to be further positive results coming out over the next couple of years. Dividend yield of 2.88%. (Analysts’ price target is $69.11.)


Price: $65.290
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Yes
2017-02-22 PAST TOP PICK Mylan Inc
MYL-Q
Jerome Hass

(A Top Pick Feb 8/16. Down 16.58%.) Long. (A Pairs trade with a Short on Valeant Pharma (VRX-T). Unfortunately both stocks came down.


Price: $42.000
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Yes
2017-02-22 COMMENT NYX Gaming Group Ltd
NYX-X
Jerome Hass

He used to be a “Long” shareholder and lost money. Eventually got fed up with management and got out of the stock.


Price: $1.070
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: No
2017-02-22 COMMENT Pfizer Inc
PFE-N
Paul Macdonald

Likes the valuation. Trading at around 13X next year’s earnings. This has a history from 2010 to 2015, subject to a big patent cliff, where they had significant declines in revenues. They’ve filled out their pipeline. Has 140 drugs that are over $100 million in revenues. 8 are blockbusters with over $1 billion in revenues. Likes the valuation and the yield.


Price: $33.590
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Yes
2017-02-22 COMMENT Rocky Mountain Dealerships
RME-T
Jerome Hass

Had a Pairs trade with Service, and was Short it in the fall, largely because the company’s Q2 numbers were off the charts compared to the industry. It worked out well for him. As a Long position he thinks it is a good company, but if he had a choice, he would probably take Cervus (CERV-T).


Price: $10.620
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Unknown
2017-02-22 COMMENT Russel Metals
RUS-T
Jerome Hass

He looked at the name 4-5 months ago, and really liked it. Waited for an entry point but missed the boat. A great name. The dividend is sustainable. The nature of their business tends to be anti-cyclical, from a cash flow point of view.


Price: $28.750
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Unknown
2017-02-22 PAST TOP PICK Shawcor Ltd. (A)
SCL-T
Jerome Hass

(A Top Pick Feb 8/16. Down 30.57%.)*Short*. He is very proud of this company. There are very few Canadian companies that can say they are a world leader in what they do. Had this as a Short because they tend to be a late stage player in oil/gas. Feels the market got a little bit ahead of itself in pricing this in, but rather than fight the tape, he exited the position.


Price: $36.680
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: No
2017-02-22 BUY Stryker Corp.
SYK-N
Paul Macdonald

This is a long-term Hold. He recently added to his holdings. This is your hip, knees, ankles, feet, prosthetics. You are paying a little bit more for their growth. This is going to be the wave of the future. Feels they are capturing market share.


Price: $127.290
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Yes
2017-02-22 DON'T BUY Teva Pharmaceutical
TEVA-N
Paul Macdonald

Wouldn’t be a buyer of this today. He expects generic drug prices today would be on a downward trend. He still sees 5%-8% growth in branded drugs. The current trend for generic drugs is -9%. He is going to stand on the sidelines until he sees where generic prices level out.


Price: $35.970
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Unknown
2017-02-22 TOP PICK Spin Master Corp
TOY-T
Jerome Hass

Going to be reporting in March. There are so few listed toy companies globally. It is not inconceivable that this company gets taken out by one of the bigger players. (Analysts’ price target is $37.86.)


Price: $33.700
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: CAUTIOUS
Owned: Yes
2017-02-22 PAST TOP PICK UnitedHealth Group Inc
UNH-N
Paul Macdonald

(A Top Pick June 22/16. Up 17.44%.) They are the dominant medical insurer. The transition from straight Medicare to Medicare Advantage will be a positive tailwind for them. There are some tax benefits coming down the pipeline that will be positive for them. The only US medical insurer that is integrated with its pharmacy benefit manager, which is proving to be positive.


Price: $160.570
Subject: HEALTHCARE
Bias: BULLISH on HEALTH CARE
Owned: Yes
2017-02-21 N/A A Comment -- General Comments From an Expert
A Commentary
Robert McWhirter

Market. Using Schiller’s cyclically adjusted PE, US stocks are not cheap. At 28X, it is 70% higher than the long-term average. However, valuations in most cases is not a good measure for market timing. More important is what is happening to interest rates. A lot of people indicate we still have another year or 2 for the market to run before there needs to be concern about an economic slowdown. Goldman Sachs thinks interest rates would need to go to nearly 4% before the economy would be markedly slowed down.


Price: $0.020
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: _N/A
2017-02-21 N/A A Comment -- General Comments From an Expert
A Commentary
Robert McWhirter

Energy. Charts are pointing to a $75 oil in the next year. If oil breaks out, you are going to see a lot of people in Alberta having a spring back in their step.


Price: $0.020
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: _N/A
2017-02-21 N/A A Comment -- General Comments From an Expert
A Commentary
Alex Ruus

Market. There is more bullishness. Canadians, with our much more centric political viewpoint, have taken the Trump election much more cautiously than the US, which are putting the pedal to the metal, as they are realizing it is really, really good for business. Canadians are slowly starting to clue in that it is really good for the US economy, and consequently good for Canadian and global economies. We will get indigestion in certain areas as we move on through 2017, but in other areas we will get some very positive results.


Price: $0.020
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: _N/A
2017-02-21 SELL Apple
AAPL-Q
Alex Ruus

(Market Call Minute.) A great company, but it is coming up to an unsustainable earnings level and their margins are going to be under pressure in the future.


Price: $136.700
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 COMMENT Alaris Royalty
AD-T
Robert McWhirter

6.9% dividend yield, and the payout is 75%, so the dividend is covered, but stretched. Earnings estimates are up 1% in the last 90 days. Earnings are expected to have a very modest growth of 3% for 2017 versus 2016. Free cash flow is a modest at 2.3%. This borders in the top 3rd of his database. If looking for an income vehicle, he would look elsewhere.


Price: $23.200
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: Unknown
2017-02-21 PAST TOP PICK Alaris Royalty
AD-T
Alex Ruus

(A Top Pick Feb 2/16. Up 3.97%.) This has been a phenomenal long-term performer. The market has become very quantitative and momentum driven. The stock is now stabilizing and it is a great buying opportunity.


Price: $23.200
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Yes
2017-02-21 PAST TOP PICK Agnico-Eagle Mines
AEM-T
Robert McWhirter

(A Top Pick Feb 8/16. Up 29.61%.) The forecast at the time was that the long-term price of gold had bottomed and was headed up. Still thinks there is a good opportunity for gold because of rising inflation over the next couple of years.


Price: $61.410
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: No
2017-02-21 DON'T BUY Altagas Ltd
ALA-T
Robert McWhirter

Sold his holdings about 2 months ago. Payout ratio is 56%, reasonable within the utility part of their business. Earnings grew 75% as of October 20, and are forecast to decline by 19% when they report in February. Overall earnings for the year is forecast at $.99, and a slight decline to $.97 in 2017. Free cash flow growth is negative. He would prefer other stocks. Dividend yield of 6.7%.


Price: $31.650
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: No
2017-02-21 PAST TOP PICK Anthem Inc
ANTM-N
Alex Ruus

(A Top Pick Feb 2/16. Up 31.82%.) The #2 healthcare insurer in the US. Healthcare has been out of favour in the last year, but even with that this has made decent money. A testament to what a great quality business is. A fantastic cash generating business. Undervalued, trading at 12X 2018 earnings. Dividend increases every year, and they buy back stock.


Price: $164.220
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Yes
2017-02-21 COMMENT Algonquin Power & Utilities Corp
AQN-T
Robert McWhirter

Payout ratio is 50%. A “sleep at night” stock meaning it has a low beta, volatility is half of the market over the last 5 years. Year-over-year sales was up 9% in November and earnings were down 31% and down 21% in the coming quarter, but are expected to grow from $.42 to $.65, a 54% lift, against an 18 PE giving you a .33 PE to growth. A PE to growth that is less than 1%X is typically viewed as attractive. Ranks in the top 25% of his database. Enterprise value to EBITDA is 13X, which is pretty reasonable. Thinks there is a pretty secure future. Dividend yield of 5.2%. (See Top Picks.)


Price: $11.830
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: No
2017-02-21 BUY Birchcliff Energy Ltd.
BIR-T
Alex Ruus

(Market Call Minute.) A solid, solid gas producer on the West Coast.


Price: $7.580
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 PAST TOP PICK Boralex Inc.
BLX-T
Robert McWhirter

(A Top Pick Feb 8/16. Up 38.9%.) Wind and renewable energy. Continues to rank well in his overall dividend model. Yield of 3% and payout ratio of 23%. The purpose of owning this is to benefit from the rising earnings, up 36% in November, and expected to be up 75% when they report in March. Year-over-year earnings growth is expected to go from $.21 in 2016, to $.48 in 2017, giving a 42X PE multiple. Free cash flow is minus 7%. Enterprise value to EBITDA is at 13X. Still feels there are great opportunities for growth.


Price: $20.210
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: No
2017-02-21 HOLD Bristol Myers Squibb
BMY-N
Alex Ruus

A big legacy pharmaceutical company that has undergone a bit of a Renaissance in the last 5 years. One of the 2 big pharmas (along with Merck (MRK-N)) that have become leaders in cancer immunotherapy area, a fast growing area. In mid-2016 the stock really dropped because of a negative trial result. He likes this longer-term, but you have to be cautious because they are going through some turbulence. The stock still isn’t cheap. If it got down to around the 52-week low, that would be an area to start looking.


Price: $54.780
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 BUY Brookfield Property Partners
BPY.UN-T
Robert McWhirter

Year-over-year sales is up 14% and earnings are expected to grow by 17% when the report in May. Year-over-year earnings are expected to grow 47% for 2017. This gives a PE of 24X and a PE to growth of .5. ROE is still pretty modest and is expected to be 3.3%, however free cash flow on a 4th quarter trailing basis is attractive at 7%. This looks like a pretty good opportunity to make some money. Dividend yield of 5.1%.


Price: $30.810
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: No
2017-02-21 BUY Anheuser Busch Companies Inc.
BUD-N
Alex Ruus

(Market Call Minute.) This would be a Buy on weakness, and we are now at that weak point.


Price: $68.580
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 COMMENT Callidus Capital Corp
CBL-T
Robert McWhirter

Payout ratio on 4th quarter trailing cash flow is 28%. The challenge is near term earnings which are forecast to grow significantly from $1.19 to $1.82, a 53% earnings growth forecast for 2017 gives a PE of 10X and a PE/Growth of .2 which is particularly attractive. ROE of 19% is forecasted for this year with 11% free cash flow yield. Dividend yield of 6.5%.


Price: $18.380
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: No
2017-02-21 COMMENT Cardinal Energy Ltd
CJ-T
Robert McWhirter

Year-over-year cash flow was down 42% in November. However, earnings estimates have gone up by 20% in the last 90 days. Expected to lose $.13 in earnings this year, and $.02 next year. Forecasted as having $1.76 of cash flow for 2018 and $1.21 in 2017. If there is a rise in oil prices, this looks like a reasonable expectation.


Price: $8.850
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: No
2017-02-21 BUY Crescent Point Energy Corp
CPG-T
Alex Ruus

One of Canada’s preeminent oil companies. The largest landholder on the Canadian Bakken play in Saskatchewan, and have built a very big company on the back of that. One of the more profitable oil plays. We are now in a bottoming and slowly rising process now with oil prices. This is probably one of the better plays in the Canadian energy patch. A lot of institutions have a sour taste because of past transactions. A good investment.


Price: $16.310
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 COMMENT Capital Power
CPX-T
Robert McWhirter

In the top 10% of his database. Just acquired some new assets and it will be interesting to see how that will impact earnings. The 6.2% yield is significant, but they have significant free cash flow to support it.


Price: $25.800
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: Yes
2017-02-21 HOLD CT Real Estate Invest Trust
CRT.UN-T
Alex Ruus

(Market Call Minute.) Owns a lot of Canadian Tire retail holdings.


Price: $15.330
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 COMMENT Capstone Mining Corp.
CS-T
Robert McWhirter

This has done well but charts show it getting a little toppy. Longer-term, this is a play on copper. Copper prices look like they have broken out recently, which would be quite positive for a lot of Canadian mining and copper companies over the coming 12 months. Ranks in the top 3% of his database.


Price: $1.730
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: Unknown
2017-02-21 BUY on WEAKNESS Canadian Tire Corporation Ltd. (A)
CTC.A-T
Alex Ruus

(Market Call Minute.) A great, long term, Canadian retail franchise. It’s close to its 52- week high.


Price: $156.740
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 COMMENT Ceapro Inc.
CZO-X
Robert McWhirter

They extract the good stuff from oats for use in cosmetics. Also, extracts for use in food for reducing cholesterol. Recently increased their plant size by 10X. Still has a year’s worth of inventory stockpiled for covering risks with their new plant. There was some lumpiness in the most recent quarter with a Chinese customer not reordering. The question is, will he be back in the upcoming quarter. Thinks growth is pretty good with some interesting opportunities.


Price: $1.620
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: Unknown
2017-02-21 TOP PICK Element Fleet Management
EFN-T
Alex Ruus

This is one of 2 parts that was spun out from the old Element Financial. North America’s leading fleet manager and growing organically as well as rolling up other fleet managers over time. They also have some fleet management in other parts of the world. Also, have a lot of peripheral services that they can provide to customers. Trading at 11X next year’s earnings. Dividend yield of 0.71%, which will probably be increased every year. He can see 40% upside from here. (Analysts’ price target is $14.66.)


Price: $14.030
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Yes
2017-02-21 HOLD Exchange Income
EIF-T
Alex Ruus

(Market Call Minute.) A good, well-run company. It has had a heck of a run over the last year.


Price: $39.640
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 DON'T BUY First Capital Realty
FCR-T
Robert McWhirter

Ranks in the top 3rd of his database. A fairly slow growing company. Earnings growth is forecast to be negative, going from $1.03 in 2016 to $.86 in 2017. Free cash flow is a minus 3% on a 4th quarter trailing basis. Using enterprise value to EBITDA, it trades at 22X 4th quarter trailing and is down 2.6%. Dividend yield of 4.2%.


Price: $20.570
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: No
2017-02-21 COMMENT Flyht Aerospace Solutions
FLY-X
Alex Ruus

An “Internet of things” company in a way, but for the aircraft industry. Provides critical data streaming from planes to the ground, and are the leader in that segment. Over time, this will become a global standard. They struggled for a number of years and just became profitable this year. It has great things ahead of it. Thinks the stock goes significantly higher.


Price: $0.270
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 TOP PICK Fortis Inc.
FTS-T
Robert McWhirter

A diversified international distribution utility holding company. 25% dividend payout ratio. Reported a 15% earnings surprise on Feb 16. Sales are up 11% year-over-year, and the growth margin grew 7% year-over-year. Free cash flow was up 44% and ROE is 8%. 3.7% dividend yield. (Analysts’ price target is $48.55.)


Price: $43.180
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: Yes
2017-02-21 COMMENT Knight Therapeutics
GUD-T
Robert McWhirter

Basically a company that acquires pharmaceutical products, typically from other large established companies. Ranks in the top 3rd of his database. Earnings have been a bit challenged for the coming quarter. Most recently, sales were up 26% and earnings were up 54%. In the coming quarter,it is expected to have a step back, and earnings are expected to be $.03 versus $.08 last year. Earnings estimates have been shaved by 15%, and earnings for 2017 versus 2016 are literally unchanged at $.13 per share. Against a $10 stock price, that gives you and 82X PE multiple with low to no growth. There is a lot of competition and better opportunities in others.


Price: $10.820
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on OIL
Owned: Unknown
2017-02-21 HOLD Hudson Bay Co.
HBC-T
Alex Ruus

(Market Call Minute.) Going through a bit of choppiness. Real estate is probably worth a lot, relative to the share price. Until you actually see that realized, weakness in their retail operations could put pressure on the stock.


Price: $12.360
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 SELL IBM
IBM-N
Alex Ruus

This has done pretty well in the last year, but that is after a five-year period of choppy performance. It has rallied out of the Trump election, and is probably not sustainable over a longer-term basis. They are a little behind the curve in terms of where technology is moving these days. It is more of a trading range stock now, and is at the higher end of its range. If it got closer to its 52 week lows, it would be a Buy again.


Price: $180.260
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: Unknown
2017-02-21 HOLD McKesson Corp
MCK-N
Alex Ruus

One of 3 really big pharmaceutical distributors in the US. A perfect example of short-term versus long-term investing. Healthcare has been a tough sector for the last year. Politically, it always has a big target on it back. He expects the sector as a whole to do a lot better this year. They are working in an oligopoly type structure now. They’ve had a lot of margin expansion over time, which may have ended. Longer-term he likes this, but in the short term it is going to struggle.


Price: $150.890
Subject: NORTH AMERICAN
Bias: OPTIMISTIC
Owned: No
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