The big winner of the first month of the year in Québec inc. on the Toronto Stock Exchange is Haivision.
Shares of the Montreal-based provider of streaming solutions rose 28% in January. PyroGenesis (+19%), ADF (+16%), Waterfalls (+16%), Stingray (+14%), Deckchair (+13%), Goodfood (+12%), Guru (+12%) and Fiera Capital (+10%) also did well.
Among the losers, DavidsTea lost 32% on the Toronto Venture Exchange while Vision Marine lost 31% to the NASDAQ.
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Dollarama lost support at the start of the week. Scotia analyst George Doumet withdrew his buy recommendation on the Montreal retailer’s stock on Monday. He expects same-store sales growth to moderate. “It would almost take a hard landing in the economy for Dollarama stock to work while the idea of a soft landing is gaining ground, which encourages risk-taking. » He also believes that a moderation in inflation risks changing consumer behavior and encouraging them to turn less to discount retailers. There are now 7 analysts out of 13 to suggest buying.
Glenn Chamandy’s successor at the helm Gildan, Vince Tyra, has four months ahead of him to get the ball out of the stadium before the Montreal t-shirt manufacturer’s shareholders’ meeting is held. A Vince Tyra home run – that is, new contracts, new customers or other major good news – could help convince shareholders to get behind him and Gildan ahead of the planned vote on May 28… unless there is a twist, which is not impossible given the army of lawyers, strategists and specialists who advise Gildan, but also among the shareholders who are contesting the dismissal of Glenn Chamandy.
Ontario’s air cargo service provider Cargojet is an attractive acquisition target for the Montreal trucking company TFI, according to RBC. The sale of TFI’s parcel and mail delivery activities to UPS or to FedEx, for example, would free up funds to buy Cargojet, points out analyst Walter Spracklin in a note published Monday. Cargojet would, according to him, expand TFI’s service offering and open a new avenue for growth.
“What has prevented the purchase of Cargojet in the past is that TFI competes with UPS in Canada [TFI et UPS sont des clients de Cargojet]. TFI would therefore have transported a competitor’s packages, creating a potential conflict of interest. If, however, TFI sold its parcel and mail delivery business, TFI could buy Cargojet and offer parcel transportation to all its customers. »
Bets remain off on what will happen ECB Thursday by presenting its financial targets for the 2024 financial year. Will the dividend increase that will be announced by BCE be equal to or less than the usual annual increase of 5% or more? An increase of 3% rather than 5% would only marginally improve the cash flow payout ratio and leave open the question surrounding the ability to maintain dividend growth, according to CIBC analyst Stephanie Price. She also expects BCE to announce new cost reduction initiatives this year.
TD withdrew its buy recommendation on BCE stock on Friday. Analyst Vince Valentini says in particular that he has concerns about the number of net subscribers which will be revealed Thursday for the most recent quarter.
A senior manager of Savaria bought more than half a million dollars worth of shares in the Laval-based accessibility equipment manufacturer in January. Jean-Philippe De Montigny, head of transformation, purchased blocks of shares during the sessions of January 17, 18 and 26.
The recent sale of the M8 Pharmaceuticals at a valuation multiple twice as high as that at which its Montreal rival Knight Therapeutics trading on the stock market reinforces the conviction of Medici, an asset manager from Saint-Bruno-de-Montarville. “This is further proof that our investment in Knight is at a discount,” Medici said in its annual letter sent to clients this week.
“Not only is the pharmaceutical business proving resilient in times of recession, but Knight has non-core assets (cash, business interests, etc.) of $2.60 per share,” it is specified.
Lassonde’s Quebec titles, WSP, Tecsys, Stingray, ADF And CGI all hit a 52-week high this week on the Toronto Stock Exchange.
On the other hand, that of Pages Yellows reached a 52-week low again this week.