Posted at 8:00 a.m.
The third largest institutional shareholder of Yellow Pages has just improved its investment in the Montreal-based digital media and marketing solutions company.
Empyrean Capital Partners has just told the authorities that it bought blocks of shares last month to start June with a 23.3% stake in Pages Jaunes.
This stake previously amounted to 20.9%.
RBC analyst Walter Spracklin launched official coverage of the activities of CAE recommending the purchase of the Montreal manufacturer of flight simulators. This expert believes that the current valuation does not adequately reflect the organic revenue growth, the differentiated product and service offering which has significant barriers to entry, as well as the investments made during the pandemic which set the stage for “solid” growth. They are now 9 analysts out of 12 to suggest buying.
The largest institutional shareholder of Dorel increased its stake in the Montreal furniture and car seat manufacturer in May. Brandes Investment Partners, whose stake in Dorel was less than 15% at the start of May, started June holding 16.5% of Class B shares. Brandes is a California-based asset manager.
TD removed Stella-Jones from its Action Buy List on Friday. Analyst Michael Tupholme still believes the Montreal-based railroad tie and telephone pole maker is undervalued and represents an attractive opportunity for a long-term investor. In the current context, however, the rebound of the action could stretch over a longer period than expected.
PHOTO CHRISTINNE MUSCHI, REUTERS ARCHIVES
Bombardier Global aircraft under construction
TD adjusted its calculations mid-week on Bomber. Analyst Tim James still sees attractive long-term potential, but says he is now using a lower valuation multiple and lowering his 12-month target to $62 (was previously $69). “The valuations of the comparables, the increase in credibility of the leaders, the execution and the results do not justify a target adjustment. However, the current stock market environment could limit the expansion of the short-term valuation multiple due to Bombardier’s level of indebtedness and its 100% exposure to the business jet market. »
After its recent decline, the action of Couche-Tard has become more attractive than it was (a lot of titles do). The Laval-based company will release its year-end performance on Tuesday, but TD analyst Michael Van Aelst doesn’t expect the financial results to have any particular bearing on the stock in the near term given that comparisons will become more difficult in fiscal year 2023.
Consequently, he underlines in a note published on Wednesday, the action risks being more influenced by factors other than the results, at least in the short term. “Unless Couche-Tard uses its capacity of more than 10 billion dollars to make one or more acquisitions. In the meantime, the company plans to buy back 1.5 million shares per week. »
The Quebec titles of the Bank National, Electric Lion, Stella Jones, Transat, Nuvei, Dialogue, Market good food, Cogeco Communications, Cogeco, Senvest, Hexo and Neptune all hit 52-week lows on the Toronto Stock Exchange this week.
The Toronto Stock Exchange will be closed on Friday for Canada Day.