RBC has published its latest 'Analyst Best Ideas" portfolio. New div stocks incl $KMP.UN and $TRP.TO, a weighting increase for $EQB.TO and many usual faves $BCE.TO, $PPL.TO, $DHT.UN, $ALA.TO, etc
RBC analyst raises target on $CM.TO following Q1 (and drop in stock yesterday).
I find it hard to put new money into banks these days. CM is trading at 14.3x, compared to 9.9x long term avg (peers at 15x). Relatively, CM still looks good, but valuations are well above normal.
Clean beat by $TD.TO. Both $RY.TO and $CM.TO also reported above consensus and getting analyst praise today. Seems like the strong YTD performance for Cdn banks has been justified. RBC analyst comments on TD:
EQB's Q2 wasn't a disaster, but certainly not in the same class with the strong results from the big banks (and trades at 12x, which used to be considered a high multiple for a Cdn bank). Comments from Scotia analyst: $EQB.TO
Strong results from Cdn banks this morning: $BMO.TO, $BNS.TO, $NA.TO all beat consensus. RBC comments on BMO results below.
(analyst may have to raise his target price 😆).
TD upgrades $PPL.TO and $GEI.TO, raises valuation multiples for energy infrastructure stocks. (TD had previously downgraded PPL on Feb 17, unfortunate timing 😬)
@NuggetCapital I’ve yet to see an oil analyst give an assessment of the oil price in six months if Iran has no sanctions, and OPEC stops throttling back.
Scotia REIT analyst today talking about the surge in buyouts recently, names $KMP.UN, $HOM.UN and $DIR.UN as top takeout candidates. (They probably should have picked $SGR.UN, given the news today).
The chairman of Plaza Retail REIT resigns from the board a week before the AGM. A bit strange, a shake-up in the works? $PLZ.UN
($MRC.TO owns 15%, maybe they want a seat?)
Plaza Retail REIT Announces Trustee Resignations https://t.co/kGjAsMZZ88
H&R's Q1 offered no news on asset disposals or strategic plan. But it remains good value, with an NCIB likely later this year. Remember there were multiple bidders for the REIT a year ago. $HR.UN. From RBC: