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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
2017-07-14 HOLD BlackBerry
BB-T
Michael Smedley

The company has worked very, very hard. There is no magic immediately. Be patient. They have a lot of expertise. The car will work out. They get royalties from the handhelds.


Price: $12.600
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-07-14 COMMENT Grande West Transportation Group
BUS-X
Robert McWhirter

Manufactures buses that are slightly smaller than a regular bus, as well as costing less. They have a huge backlog. A niche product because of the shorter turning radius, less expensive, and qualifies for “made in the US”. There are good opportunities both in Canada and the US. Earnings growth is expected to go from $.05 in 2017 to $.15 in 2018 against a stock price of $2.63, which gives you about an 18X PE multiple. Expects you would be happy with this investment.


Price: $2.750
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Unknown
2017-07-14 PAST TOP PICK CAE Inc
CAE-T
Robert McWhirter

(A Top Pick Nov 4/16. Up 19.88%.) A dearth of pilots makes this a great catalyst, and will probably be so for the next decade. There is a huge number that will be retiring, and demand will be significant. There is also a massive expansion in China. This continues to rank very high in his model. Dividend yield of 1.4%.


Price: $22.380
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Yes
2017-07-14 TOP PICK Cogeco Cable
CCA-T
Robert McWhirter

Recently acquired some US cable operations. Earnings per share were up 37%, a 4% earnings surprise. Free cash flow was up 113% year over year. Free cash flow yield increased from 6.5% last year to 10.4% this year. Trailing ROE is 21%. PE to growth is .35. Dividend yield of 2.1%. (Analysts’ price target is $82.50.)


Price: $83.710
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: No
2017-07-14 BUY Cineplex Inc
CGX-T
Michael Smedley

This fell 4.2% today as the National Bank (NA-T) cut its rating to “Sector Perform” from Outperform. A buying opportunity for the long-term. Rather than a cinema company, this is really a fabulous popcorn company as well as introducing some new things.


Price: $50.130
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-07-14 COMMENT Clearwater Seafoods Inc.
CLR-T
Michael Smedley

This is seafood based on very precious permits up and down the East Coast of the Americas. It was very, very prominent at one stage, but he has seen very little on it recently. This is good, because it is in a very special area of exporting very high-quality shellfish to the far east. Very competent people who have world experience in marketing fish.


Price: $11.870
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-07-14 PAST TOP PICK Celestica Inc
CLS-T
Robert McWhirter

(A Top Pick Nov 4/16. Up 9.44%.) This does not pay a dividend, but has a significant free cash flow generation. They also own property near the Science Centre which has been re-permitted for multiple use. A low, flat building that has been used for manufacturing, probably the largest chunk of real estate in Toronto. The underlying business is quite good. They are moving away from physical telephones and servers to medical and aeronautical devices giving higher profit margins.


Price: $17.260
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: No
2017-07-14 COMMENT Canadian Imperial Bank of Commerce
CM-T
Robert McWhirter

Higher interest rates should be positive for Canadian banks. This ranks 78 out of 720 in his rankings. All the banks are basically clustered in the top 15% of his database. This may end up being the unloved child amongst the big 5, but generally speaking, a package of Canadian banks over the next few years should do fairly well. Thinks you will be happy with this over the next couple of years.


Price: $108.160
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: No
2017-07-14 COMMENT Crescent Point Energy Corp
CPG-T
Robert McWhirter

On a payout basis, it has a modest 12% of 4th quarter trailing cash flow, so it looks like the dividend is sustainable. Cash flow for 2017 is expected to be pretty reasonable at $3, with about a 10% increase next year to $3.36. Because there is growth, it looks like the dividend is sustainable. If oil has bottomed at $42 and heads towards $50, there is a reasonable opportunity. Dividend yield of 3.9%.


Price: $9.220
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Unknown
2017-07-14 BUY Canadian Tire Corporation Ltd. (A)
CTC.A-T
Michael Smedley

This is a monument that will go on, and the recent drop is probably a buying opportunity for the long-term. He doesn’t know why exactly they haven’t got their e-commerce going, but many serious companies have failed when they try to get e-commerce together.


Price: $143.550
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-07-14 COMMENT Detour Gold
DGC-T
Michael Smedley

The price of gold has held pretty well, but equities have given you another selloff. This one has had its own particular problems in the mining side as well as on the debt side. It should be one of Canada's greatest, because 500,000-600,000 ounces given a prospective producer, which we haven’t seen since Campbell Red Lake.


Price: $14.050
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-07-14 HOLD DHX Media
DHX.B-T
Michael Smedley

The great original in the non-Disney type company. It is Canadian. Great animation programming.


Price: $6.000
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-07-14 DON'T BUY Encana Corp
ECA-T
Robert McWhirter

This ranks 413 out of 720 in his model. Payout ratio is pretty modest at 5%. It looks like oil has bottomed at $42. If it headed to $56 at the high end of his estimated band, then it will get a lift. There are probably better opportunities elsewhere. Dividend yield of 1%.


Price: $11.970
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Unknown
2017-07-14 COMMENT Enbridge
ENB-T
Michael Smedley

Basically a long-term hold. PE multiple is always high. It is not to be compared with the oil/gas producers, high risk and cyclical. You simply hold this for the long-term. Dividend yield of 4.8%.


Price: $51.670
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-07-14 TOP PICK Fairfax India Holdings Corp
FIH.U-T
Michael Smedley

A closed-end fund, and it is India. It is the sort of magic touch of Prem Watsa. They buy big into very interesting growth companies in an amazing growth country. (Analysts’ price target is $19.25.)


Price: $17.000
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-07-14 COMMENT Flyht Aerospace Solutions
FLY-X
Robert McWhirter

Recently announced they are going to consolidate the stock, which typically means they are optimistic about the future. This revolves around 2 things. They have black box flight recorders operated through a satellite system as to where the plane is, so it is always on and always available. There is a new 2020 change in legislation that basically says that if there is an airplane in distress,  you have to know where that airplane is and be able to receive a signal at least once a minute. This is the only company globally that has the capability to do that. Their device is installed in about half of the Airbus A320 planes. They have an installed base of 1000 units in those planes, and are going back to the owners of those planes, explaining they can get huge benefits from efficiencies of reduced fuel consumption, maintenance, etc. The boxes are in about a 3rd of the Chinese fleet, which has a mandate that by 2017 they have to know where a plane is. Theoretically this has the potential to double the size of their active base by signing one of these Chinese companies in the next couple of years. There should be progress by the end of this year.


Price: $0.250
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Unknown
2017-07-14 COMMENT Fortune Minerals Ltd.
FT-T
Michael Smedley

This has a large cobalt deposit. A good deposit mixed with bismuth, which is used in the treatment of metal. The company has struggled for years as mining companies do. It has managed to raise some money and is in a strategically choice area. (See Top Picks.)


Price: $0.225
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-07-14 TOP PICK Katanga Mining Ltd.
KAT-T
Michael Smedley

The “go to” company for existing supplies of cobalt. This is the one metal that is absolutely scarce.


Price: $0.820
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-07-14 DON'T BUY K-Bro Linen Inc
KBL-T
Robert McWhirter

Earnings estimates were $1.59 for 2016, and dropped to $1.14 for 2017, and then goes to $1.39 for 2018. There is reasonable year-over-year growth from 2016 of 12%. It ranks 308 out of 720 stocks in his model. On a near term basis, year-over-year cash flow has declined by 16%, and year-over-year earnings growth is -12%. The upcoming quarter is even worse at -16%. Dividend yield of 3%. He would look elsewhere.


Price: $39.950
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Unknown
2017-07-14 PAST TOP PICK LinkedIn Corporation
LNKD-N (Dead)
Michael Smedley

(A Top Pick June 9/16. Up 43.53%.) This was acquired by Microsoft (MSFT-Q).


Price: $195.960
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2017-07-14 BUY on WEAKNESS LuLulemon Athletica (US)
LULU-Q
Michael Smedley

You buy this every time it drops $10. It hasn’t gone up too much. This is an established brand.


Price: $59.810
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-07-14 PAST TOP PICK Magna Int'l. (A)
MG-T
Robert McWhirter

(A Top Pick Nov 4/16. Up 18.42%.) The real question becomes do you expect Apple (AAPL-Q) and Google (GOOGL-Q) to end up bending metal like Tesla, or do you expect them to use this company instead. He thinks there is a great opportunity as the current supplier.


Price: $60.900
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Yes
2017-07-14 COMMENT Northern Dynasty Minerals Ltd
NDM-T
Michael Smedley

This is perking up. It is in better shape because the EPA is almost user-friendly now. The company is flying important analysts up to see the mine after all these years of desperately trying to get it going.


Price: $1.890
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-07-14 PAST TOP PICK Napec Inc
NPC-T
Michael Smedley

(A Top Pick June 9/16. Up 6.9%.) He is very pleased with this because it has been underwater for a time. It has reconstituted itself with a management change at the top. It’s into infrastructure and electrical systems. Feels it is on the way to becoming something quite important, especially in the Northeast US where they bought a subsidiary a couple of years ago.


Price: $1.240
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-07-14 BUY Memex Inc.
OEE-X
Robert McWhirter

The recent decline in sales is because of the uncertainty of NAFTA. There was also the impact because of potential changes in tax legislation about writing off taxes faster. That seems to be behind them now. This is an investment on a long-term basis as they take machines on the shop floor figuring out which ones are producing, to get rid of bottlenecks. The payback is about a 400% return on their investment. The company has spent about $3 million over the last 3 years upgrading their product. This is a stock you can buy, throw in a box, and 2 years from now you will be very pleased.


Price: $0.240
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Unknown
2017-07-14 BUY Onex Corp
ONEX-T
Michael Smedley

A very strong, blue-chip, acquirer of companies, which has grown from next to nothing. Thinks it will continue this route.


Price: $104.000
Subject: CANADIAN
Bias: UNKNOWN
Owned: Unknown
2017-07-14 PAST TOP PICK OTC Markets Group Inc.
OTCM-N Unlisted
Michael Smedley

(A Top Pick June 9/16. Up 55.98%.) Very sharp security exchanges analysts in the US for all the electronic exchanges and pink sheets. Pays ordinary dividends and a special dividend on a regular basis.


Price: $0.000
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-07-14 COMMENT Patriot One Technologies Inc.
PAT-X
Michael Smedley

Not very well known. Deals with security matters. They have a radar related device, which could be behind a drywall, and can discern how many people passing by have got rifles, etc. underneath their waistcoats. Based on current orders, he thinks it has significant income building over next few months.


Price: $0.200
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-07-14 COMMENT Patient Home Monitoring
PHM-X
Michael Smedley

Take some profits or be a buyer? This has contracted a bit again. The main problem is that you don’t really get too much presence of them in the marketplace compared to their beginning. An issue that is difficult to handle is that they are going to split into 2 companies in a few months. When they split, that would suggest that instead of having an itsy-bitsy $.38 stock you are going to have 2 itsy-bitsy $.20 stocks. One is probably going to be dealing with sleep apnea type stuff and the other with the traditional home monitoring, which is still really experimental. He would probably underweight this until he could see the whites of their eyes.


Price: $0.380
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-07-14 COMMENT Prometic Life Sciences Inc.
PLI-T
Robert McWhirter

Doing interesting drug trials, with a near-term opportunity for their orphan drug Placminogen, a specialty protein. With Placminogen they can basically sell almost everything they can produce. Earnings estimates for 2019 is basically zero. You are buying this for 2 reasons. 1.) The manufacturing process; buying a bag of plasma for $120, breaking out a large number of proteins, and selling it over time for about $1000. 2.) their drug PBI4050 which is targeted towards fibrosis, where early results are quite positive. To develop a drug and go through phase 2 and 3 drug trials, is extremely expensive. If your time frame is 3 years, he thinks you will be happy. A speculative company working with some very interesting drug opportunities.


Price: $1.550
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Yes
2017-07-14 TOP PICK CPI Card Group Inc.
PMTS-T
Michael Smedley

Makes the plastic debit cards that have the chips. In the US, they hardly have any PIN numbers. This stock falls between the cracks because it was solely listed on the Venture. There has been a mismatch of earnings over the past quarter, but he thinks things will come through. Dividend yield of 6.2%. (Analysts’ price target is $6.32.)


Price: $3.830
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2017-07-14 COMMENT Sun Life Financial Inc
SLF-T
Robert McWhirter

Canadian banks are starting to appear in his “okay to buy” list, but lifecos have not shown up yet. His ranking is 122 out of 720, but when looking at earnings and cash flow, both have been negative on a year-over-year basis.


Price: $47.150
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: No
2017-07-14 COMMENT Trican Well Service Ltd.
TCW-T
Robert McWhirter

If the underlying commodity price improves, that should be beneficial. At the moment, earnings estimates are for $.04 in 2017, a pretty pricey PE multiple. This is expected to improve to $.27 in 2018 which gives a 12 multiple, and a $.53 multiple for 2019 giving a 7 PE, which becomes interesting. It looks like a reasonable bet.


Price: $3.400
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Unknown
2017-07-14 BUY Toronto Dominion
TD-T
Michael Smedley

A serious long-term buy for people who speculate on things for serious stocks.


Price: $65.170
Subject: CANADIAN
Bias: UNKNOWN
Owned: Yes
2017-07-14 DON'T BUY TorstarCorp (B)
TS.B-T
Robert McWhirter

Print media continues to struggle. This company had a digital division that was attempting to turn things around, but hasn’t. They are expected to lose $.22 on earnings this year, and $.22 next year. It is still facing a struggle with regards to the stock price. He would look elsewhere.


Price: $1.440
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Unknown
2017-07-14 TOP PICK Waste Connections
WCN-T
Robert McWhirter

Garbage is relatively recession proof. Earnings were up 79%. Year-over-year sales are pretty good. Free cash flow is up 77%. Free cash flow yield at 3.5% is an improvement from 2.5% of last year. ROE is 9%. Dividend yield of 0.8%. (Analysts’ price target is $72.)


Price: $81.620
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Yes
2017-07-14 TOP PICK WSP Global Inc.
WSP-T
Robert McWhirter

A large company with almost 36,000 employees and 500 offices in 40 countries. 36% payout ratio. They are forecasting unchanged earnings at $.65. Growth margins grew from last year from 17.8% to 18.8%. Year-over-year cash flow was up 53%. Feels all infrastructure supporting companies will end up doing well. Dividend yield of 2.9%. (Analysts’ price target is $54.50.)


Price: $52.710
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: No
2017-07-14 COMMENT iShares S&P/TSX Global Gold
XGD-T
Michael Smedley

If you don’t want individual gold stocks, and you don’t know the companies, you buy this ETF. It is down, so be prepared to hold it for the long-term. He doesn’t want to hold this.


Price: $11.760
Subject: CANADIAN
Bias: UNKNOWN
Owned: No
2017-07-14 COMMENT Zecotek Photonics
ZMS-X
Robert McWhirter

This makes very interesting crystals that are used for PTE medical scanners. The real opportunity near term, is that they have signed an exclusive deal with a Chinese PTE manufacturer. It is a huge business growth opportunity in China. There has been some significant improvement in the last month or so, because they are not only using these for medical scanners, but they now have industrial applications. Working with a German automaker on a 3-D heads-up display. Also, there is the potential that Phillips may come back to the PTE medical scanner market. The terms of the dropped lawsuit was that Phillips would be required to buy this company’s crystals.


Price: $0.290
Subject: CANADIAN DIVIDEND & GROWTH
Bias: BULLISH on ENERGY
Owned: Unknown
2017-07-13 N/A A Comment -- General Comments From an Expert
A Commentary
Jerome Hass

Markets.  He has a long short strategy to help him sleep better at night.  He is agnostic to what the market is doing.  Long has market risk, industry risk and industry specific risk.  He isolates the company specific risk with pair trades.  He pair trades within an industry space.  A Mid cap is $200 Million to $2.5 Billion.  There are about 450 mid-caps and 200 if you take out resources. 


Price: $0.020
Subject: CANADIAN MID-CAPS & LONG/SHORT STRATEGIES
Bias: Bullish on Canadian Equities
Owned: _N/A
2017-07-13 N/A A Comment -- General Comments From an Expert
A Commentary
Paul Harris, CFA

Economy.  The Bank of Canada’s economic outlook is surprisingly rosy. He shares that outlook, and on a global basis as well. However, you are not going to see the kind of robust growth that you saw in previous cycles coming out of a growth period. Expects we are going to have a 2%-2.5% growth globally. Thinks we are going to have lower inflation for a period of time, so doesn’t think rates will be going up as aggressively as people think.


Price: $0.020
Subject: NORTH AMERICAN/GLOBAL
Bias: UNKNOWN
Owned: _N/A
2017-07-13 N/A A Comment -- General Comments From an Expert
A Commentary
Paul Harris, CFA

Banks. Banks make money on the spread, where they borrow money very cheaply and lend it out at a higher price. The steepness of the yield curve is very important to them. With the increase in interest rates, the banks can now increase lending rates, but not increase what they pay out on deposits. That means the spread gets better when rates go higher.


Price: $0.020
Subject: NORTH AMERICAN/GLOBAL
Bias: UNKNOWN
Owned: _N/A
2017-07-13 COMMENT AutoCanada Inc.
ACQ-T
Paul Harris, CFA

He continues to buy shares at these levels. In the past, they made way too many acquisitions, and were not able to execute on them. They also didn’t integrate their back-office very much. Also, were heavily weighted in Alberta/BC. Hopefully they are going to be geographically in a better situation over the next several years. He is looking for them to make only 2 or 3 acquisitions a year. The stock is cheap at these levels.


Price: $18.290
Subject: NORTH AMERICAN/GLOBAL
Bias: UNKNOWN
Owned: Yes
2017-07-13 PAST TOP PICK AGF Management (B)
AGF.B-T
Jerome Hass

* Short*. (Top Pick Jun 10’16, Down 47.16%) There has been more enthusiasm for the asset managers.  He thinks the industry as a whole is still going to suffer from the continuing trend.


Price: $7.000
Subject: CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias: Bullish on Canadian Equities
Owned: Yes
2017-07-13 COMMENT Alibaba Group Holding
BABA-N
Paul Harris, CFA

A unique company. People think of this as the Amazon of China, but it really isn’t. They act as a platform for 3rd party people. They have no credit issues. A very domestic play, so you have to continue to believe China will do well, which he does. It is trying to be a more global player, so you have to wait and see. Also, has a company called Alipay, which is something they can monetize over the next little while.


Price: $149.520
Subject: NORTH AMERICAN/GLOBAL
Bias: UNKNOWN
Owned: Unknown
2017-07-13 TOP PICK Bank of America
BAC-N
Paul Harris, CFA

A better bank than it was 10 years ago. It has more capital, a better cost structure and have gotten rid of assets that are non-core. They can’t acquire things anymore other than a few tuck-in acquisitions on the wealth management side. This means it is going to grow a lot more organically. They have a great wealth management business. The stock is trading at only 1X BV. Dividend yield of 1.2%. (Analysts’ price target is $27.00.)


Price: $24.620
Subject: NORTH AMERICAN/GLOBAL
Bias: UNKNOWN
Owned: Yes
2017-07-13 COMMENT BioAmber Inc
BIOA-N
Jerome Hass

A Painful Position.  Their products are more of an intermediate product.  He has really liked the story.  It has not been great execution.  The plant in Sarnia needs to run at a higher capacity. People need to see that they can sell the products they produce.  It is a very much wait and see story.  He is not adding more to it until they have proven that they can deliver.  They have been talking about a joint venture in China and the Q2 results in August could be another catalyst.


Price: $2.650
Subject: CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias: Bullish on Canadian Equities
Owned: Yes
2017-07-13 PAST TOP PICK Bayerische Motoren Werke AG
BMW-GR
Paul Harris, CFA

(A Top Pick Aug 4/16. Up 15.69%.) He still likes this. 40% is owned by the Quandt family. Management wants to drive technology and drive their business, and is happy to give up margin in the short term to do that. 4% dividend yield.


Price: $0.000
Subject: NORTH AMERICAN/GLOBAL
Bias: UNKNOWN
Owned: Yes
2017-07-13 DON'T BUY Grande West Transportation Group
BUS-X
Jerome Hass

Pretty cynical about this stock. It is a Canadian designed mini bus for public transportation.  But it was manufactured in China. If he had a choice between buying and selling he would sell.


Price: $2.840
Subject: CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias: Bullish on Canadian Equities
Owned: Unknown
2017-07-13 BUY CitiGroup
C-N
Paul Harris, CFA

Trades at a little less than BV. He likes US banks, specifically some of the money centred banks like this one and J.P. Morgan (JPM-N). They are in very good shape and have lots of capital. They can increase dividends and buy back shares. It is the right environment to own these things, and you are not paying a lot for them. (See Top Picks.)


Price: $67.020
Subject: NORTH AMERICAN/GLOBAL
Bias: UNKNOWN
Owned: Unknown
2017-07-13 PAST TOP PICK Callidus Capital Corp
CBL-T
Jerome Hass

(Top Pick Jun 10’16, Up 3.42%)  Last year they announced a 4 stage plan.  At the end of October they announced a privatization plan, but it has been delayed.  They are considering a private debt fund.  Hold it if you understand the math.


Price: $14.460
Subject: CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias: Bullish on Canadian Equities
Owned: Yes
2017-07-13 TOP PICK Cineplex Inc
CGX-T
Jerome Hass

* Short * Pairs Trade: *Long* CNK-N/ *Short* CGX-T. Canadian long only managers always buy CGX-T as a recession proof business. It is a good company, but very expensive. It is twice the valuation of CNK-N.(Analysts’ target: $58.50).  CNK-N is more focused on the cinema business. It has 3 times more screens. It is a bigger, more liquid name and has a better dividend yield. (Analysts’ target: $44.00). 


Price: $52.330
Subject: CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias: Bullish on Canadian Equities
Owned: Yes
2017-07-13 BUY Cargojet Inc
CJT-T
Jerome Hass

It was a Top Pick recently.  He toured their airport.  Most take offs between 10 and midnight are theirs and he was there to see that.  He was struck by how long their employers have been there.  He likes that and the stability and the business.  They have contracts for Purolator, DHL and Canada Post.  90-95% market share.  They have leased out 90% of their capacity.  There is considerable upside on their share price.


Price: $47.780
Subject: CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias: Bullish on Canadian Equities
Owned: Unknown
2017-07-13 TOP PICK Cinemark Holdings
CNK-N
Jerome Hass

* Long * Pairs Trade: *Long* CNK-N /*Short* CGX-T. Canadian long only managers always buy CGX-T as a recession proof business. It is a good company, but very expensive. It is twice the valuation of CNK-N. (Analysts’ target: $58.50).  CNK-N is more focused on the cinema business. It has 3 times more screens. It is a bigger, more liquid name and has a better dividend yield. (Analysts’ target: $44.00). 




Price: $37.990
Subject: CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias: Bullish on Canadian Equities
Owned: Yes
2017-07-13 COMMENT Canadian Pacific Rail
CP-T
Paul Harris, CFA

He likes the rails and is a really great sector to be in. They’ve consolidated over the last 15-20 years and he can’t see much more consolidation. It’s much more environmentally friendly than trucking. There are better margins because of the technology they’ve put in. If there is a decent pickup in commodities over the next little while, these companies will do very, very well.


Price: $209.730
Subject: NORTH AMERICAN/GLOBAL
Bias: UNKNOWN
Owned: No
2017-07-13 HOLD CRH Medical Corp.
CRH-T
Jerome Hass

An outsourcer in medical clinics where they take a 50% stake in the business. Registered nurses are being paid as full medical doctors. Their profitability could be hit when they are re-rated. The argument goes on.  He thinks the short thesis is a little overplayed. 


Price: $6.620
Subject: CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias: Bullish on Canadian Equities
Owned: Unknown
2017-07-13 BUY CVS Health Corp
CVS-N
Paul Harris, CFA

A unique company, because it is not only a drugstore, but it is also a health company. Has a free cash flow yield of about 7.5%. Nice dividend yield. Same-store sales over the last little while have not been good, but are stabilizing. Big growth is going to come from the health part of their business. The stock is undervalued and can be up another 30%-40% from where it is today.


Price: $77.920
Subject: NORTH AMERICAN/GLOBAL
Bias: UNKNOWN
Owned: Yes
2017-07-13 PAST TOP PICK Canadian Western Bank
CWB-T
Jerome Hass

*Short*.  (Top Pick Jun 10’16, Up 9.11%) This is a paired trade for him.  He has no specific target.


Price: $27.720
Subject: CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias: Bullish on Canadian Equities
Owned: Yes
2017-07-13 COMMENT Currency Exchange Intl.
CXI-T
Jerome Hass

Has been involved with it since its IPO. After a four year wait they got their bank license.  Within 6 months they expected to land the 6 big banks.  It has not happened since the bank license came out. The growth has happened in the top line, but not in the bottom line.


Price: $24.820
Subject: CANADIAN MID-LARGE & SHORT-LONG STRATEGIES
Bias: Bullish on Canadian Equities
Owned: Yes
2017-07-13 DON'T BUY Deutsche Bank AG
DB-N
Paul Harris, CFA

He likes certain banks in Europe, but this would not be one of his favourites. They don’t have a strong retail franchise that others have. Heavily weighted to the investment banking side, which requires a lot of capital, especially in fixed income. He would prefer something that has good growth potential. There are other places to put your money.


Price: $18.930
Subject: NORTH AMERICAN/GLOBAL
Bias: UNKNOWN
Owned: No
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