Stockwatch – Market Outlook:
Market volatility is likely to continue as investors deal with the multiple geopolitical issues in the global environment as well as economic concerns, particularly in Europe, Japan and China. Canadian markets have been more vulnerable due to exposure to resources. The U.S. economy continues to exhibit signs of progress and relative stability resulting in investors pushing up the U.S. markets and currency. Recent pullbacks have been short lived, but investors should be prepared to take advantage of opportunities as they occur.
Stockwatch – Top Picks:
Stockwatch – Bank of Nova Scotia (Scotiabank)
Bank of Nova Scotia (TSE:BNS, Mkt cap 85.66B, P/E 12.02, Div/yield 0.66/3.75, EPS 5.86, Shares 1.22B) or Scotiabank is the most international of the Canadian banks with branches in the Caribbean, Central and South America. The Canadian banks have been impacted by recent market declines. Scotiabank is now selling at levels that long-term investors should find attractive, as the premium valuation has fallen. The dividend yield is now 3.8 percent. Last Purchase on September 19, 2014 at $71.75
Stockwatch – Precision Drilling
Precision Drilling Corporation (TSE:PD, Mkt cap 2.65B, P/E 12.31, Div/yield 0.07/3.09, EPS 0.74, Shares 292.78M) is Canada’s leading provider of drilling and industrial services and one of the larger land service providers in the US with presence in Mexico and the Middle East. The stock has reacted to the recent pull back in the energy sector. Given the strong balance sheet and 3 percent yield, the stock is attractively priced. Last Purchase on October 27, 2014 at $9.09
Stockwatch – New Flyer Industries
New Flyer Industries Inc (TSE:NFI, Mkt cap 723.79M, P/E 21.97, Div/yield 0.0488/4.37, EPS 0.61, Shares 55.50M) manufactures and assembles transit buses in Canada and the US as well as providing aftermarket services. Third quarter results were affected by fewer deliveries as a result of delays in inspections. The company has been a consolidator in North America and is well positioned to participate in fleet renewals. Last Purchase on September 9, 2014 at $13.70
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