Posted at 7:00 a.m.
An institutional investor from Toronto has just revealed that it took a large stake in Taiga this spring to become the largest shareholder in the manufacturer of 100% electric recreational vehicles.
A document filed with the authorities indicates that Northern Private Capital started June with 3.6 million shares of Taiga in the portfolio, the equivalent of an 11.4% stake.
Taiga’s second and third largest shareholders are founders Samuel Bruneau and Gabriel Bernatchez, with stakes of 10.6% each.
Just over a month after withdrawing its buy recommendation on the stock of Cogeco Communications, TD again suggests buying its stock. In a note published Friday, analyst Vince Valentini considers the title attractive after its decline in recent weeks. He also reminds that long-term investors can gain exposure to the security and make a wise investment by investing in the holding company. Cogeco at its current price instead of buying shares of Cogeco Communications.
The chairman of the board of directors of Stingray has just purchased $1 million worth of shares in the Montreal music service provider. Marc Pathy purchased 172,400 shares on June 9. The Boyko Investment Limited Partnership, for its part, bought $800,000 worth of Stingray shares this week.
Scotia lined up behind Coveo in the middle of the week after the release of the year-end results of the Quebec company specializing in artificial intelligence applied to e-commerce. Analyst David Weiss becomes the seventh out of nine analysts to say buy. He justifies his decision in particular by the financial performance, the clientele and an attractive valuation given the prospects for growth.
Guru lost CIBC’s recommendation on Tuesday. Analyst John Zamparo withdrew his buy suggestion on the stock of the Montreal-based organic energy drink company after the publication of quarterly results. “Investors may find a better entry price than the current value and should wait for better visibility surrounding accelerating domestic revenue growth. »
CIBC also withdrew earlier this week its proposed purchase of the action of Dialogue. In a research report on the technology sector, analysts Scott Fletcher and Stephanie Price argue that investors can obtain better returns by investing elsewhere than in the title of the Montreal telemedicine company. “Dialogue remains loss-making and in a position where the company is burning its cash. Rising costs may delay the day when profitability will be achieved. »
The acquisition this week of LifeWorks (ex-Morneau Shepell) by Telus improves the position of the Canadian telecom giant in the digital health sector and thus strengthens a competitor of the Montreal company Dialogue. It also increases the likelihood of Dialogue becoming an acquisition target, thinks analyst Jérôme Dubreuil of Desjardins Securities.
The stock market valuation of Bomber is too interesting to ignore, according to Scotia analyst Konark Gupta. In a note released on Monday, he says that while some investors believed the stock split was intended to keep the stock from sliding below the dollar, the real reason was to reduce its volatility in a way that would potentially appeal to long-term investors. .
His CIBC colleague, Kevin Chiang, for his part pointed out to his clients this week that the growing concerns linked to a possible recession or a period of stagflation limit the possibility of seeing the title of Bombardier obtain a better valuation.
Hexo lost in the middle of the week the last two purchase recommendations that the Gatineau cannabis producer still had on its stock. Fearing in particular a short-term dilution coming from financing operations, Matt Bottomley no longer offers the purchase of the title of the action. The firm Alliance Global Partners has also just withdrawn its purchase suggestion. They are nine analysts to officially follow Hexo. There are no more purchase suggestions.
Boralex lost support from iA Capital Markets earlier this week over a valuation issue. Analyst Naji Baydoun is no longer offering to buy the Kingsey Falls renewable energy producer’s stock following the stock’s recent surge.
The sudden appreciation of the title of Resolute Forest Products at the beginning of the month is explained by the inclusion of the title of the Montreal forestry company in the American Russell indexes, which proved to be a surprise for certain investors, according to analyst Sean Steuart, of TD.
The Quebec titles of MTY, National Bank, Lion, Transat, Air Canada, Nuvei, Taiga, CGI, Market good food, SNC Lavalin, Cogeco Communications, Stingray, Power Corporation, Stella Jones, Dorel, DavidsTea, Gildan, Lassonde, TFI, Senvest, Hexo and Neptune all hit 52-week lows this week on the stock market.
US stock markets will remain closed Monday on the holiday commemorating the end of slavery in the United States.