Two directors at ScotiaMcLeod created a list of 10 stocks that felt deserved to be watched in 2010. They developed a 25-page outlook report, which featured their choices for the consistent performers of the top Canadian stock picks for 2010. They also included an additional ten stocks that they felt had potential if conditions improved to an expected level.
The top ten list included,Barrick Gold(ABX), Canadian National Railway(CNI), Enbridge(ENB), Great-West Lifeco(GWLOF.PK), Research in Motion(RIMM), Rogers Communications(RCI), Royal Bank(RY), Shoppers Drug Mart(SHDMF.PK), Suncor(SU), and Thomson Reuters(TRI). The purpose of creating this list was to emphasize the higher quality performers in the market with strong balance sheets, a good track record of past performance, and quality management teams. Depending on the investors goals, these stocks should have been given consideration.
This group projected a belief that the recovery of the market would be a slow gradual process rather than a fast moving process, a prediction that defensive stocks would be the main holdings in most portfolios. Financial and commodity stocks would see a cutback, compared to foreign peers Canadian financials would be the better performers. In the second half of the year, the Canadian dollar would out perform the American dollar.
Canadian stock picks would perform a great investment as the global economy improved. These predictions were made early in 2010.
Later in the year about mid-year, Canadian Imperial Bank of Commerce (TSXCM) was predicted to be one of the better picks. The reason for this was its PE ratio was lower than any of the 5 biggest banks of Canada. Its share price also indicated the possibility for a stock split after a settlement of Basel 3 rules and dividends returned. Another financial institution that held promise was Freehold Royalty Trust (TSXFRU.UN). It offered promise in the oil and gas industry, because it colleted royalties on its assets and were not as dependent on the price of oil as others in the market. These bank stocks were felt to be the better investment for those seeking high dividend yields backed by stable businesses. The fastest growing financial institution in the country was Canadian Western
Bank, wild the financial institution with the highest yield was BMO. Each of these institutions was great for long term investments.
BCE Enterprises (TSXBCE) was on a comeback becoming a cash cow after a change in management. The smart phone market wave was the foundation for its growth. There were mountains of cash flow. Its yield was among the highest of the utility stocks, and was rumored to increase the size of its dividend twice a year on a regular basis, also figuring into the top Canadian stock picks, were 10 solid, defensive Canadian stocks.
These gave the investor access to three of the largest sectors of the market that had good yields. These stocks also have years of continued dividend growth in their future. This utility company and the above named banks are on the list of companies whose stock should be looked at for future profits and good yields in the Canadian market.
The top ten list included,Barrick Gold(ABX), Canadian National Railway(CNI), Enbridge(ENB), Great-West Lifeco(GWLOF.PK), Research in Motion(RIMM), Rogers Communications(RCI), Royal Bank(RY), Shoppers Drug Mart(SHDMF.PK), Suncor(SU), and Thomson Reuters(TRI). The purpose of creating this list was to emphasize the higher quality performers in the market with strong balance sheets, a good track record of past performance, and quality management teams. Depending on the investors goals, these stocks should have been given consideration.
This group projected a belief that the recovery of the market would be a slow gradual process rather than a fast moving process, a prediction that defensive stocks would be the main holdings in most portfolios. Financial and commodity stocks would see a cutback, compared to foreign peers Canadian financials would be the better performers. In the second half of the year, the Canadian dollar would out perform the American dollar.
Canadian stock picks would perform a great investment as the global economy improved. These predictions were made early in 2010.
Later in the year about mid-year, Canadian Imperial Bank of Commerce (TSXCM) was predicted to be one of the better picks. The reason for this was its PE ratio was lower than any of the 5 biggest banks of Canada. Its share price also indicated the possibility for a stock split after a settlement of Basel 3 rules and dividends returned. Another financial institution that held promise was Freehold Royalty Trust (TSXFRU.UN). It offered promise in the oil and gas industry, because it colleted royalties on its assets and were not as dependent on the price of oil as others in the market. These bank stocks were felt to be the better investment for those seeking high dividend yields backed by stable businesses. The fastest growing financial institution in the country was Canadian Western
Bank, wild the financial institution with the highest yield was BMO. Each of these institutions was great for long term investments.
BCE Enterprises (TSXBCE) was on a comeback becoming a cash cow after a change in management. The smart phone market wave was the foundation for its growth. There were mountains of cash flow. Its yield was among the highest of the utility stocks, and was rumored to increase the size of its dividend twice a year on a regular basis, also figuring into the top Canadian stock picks, were 10 solid, defensive Canadian stocks.
These gave the investor access to three of the largest sectors of the market that had good yields. These stocks also have years of continued dividend growth in their future. This utility company and the above named banks are on the list of companies whose stock should be looked at for future profits and good yields in the Canadian market.