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Inside the Market’s roundup of some of today’s key analyst actions
Pointing to the recent outperformance of its shares, Scotia Capital analyst Konark Gupta lowered his rating for
Air Canada (AC-T) to “sector perform” from “sector outperform” on Friday.
“The shares are over 30 per cent year-to-date likely on recovery hopes, outperforming the rest of our coverage by 17 points and TSX by 22 points,” he said. “While the stock could have further upside potential in the long term from full recovery in air travel and strong FCF generation, we note at current levels the market is already largely pricing in our base case projections to 2023 (discounted back) as well as a scenario where EBITDA fully recov
Monday s TSX breakouts: A skyrocketing stock that s rallied 55% in 2021 with further upside expected theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Power Producers Extend Canada Loss Streak as Bond Yields Pop
Bloomberg 2/25/2021 Michael Bellusci
(Bloomberg) Some of 2020’s top performing stocks in Canada have lost some luster as bond yields grind higher and recent power woes in Texas add to the drag.
Canada’s utility stocks have fallen for 13 straight sessions, their longest losing streak on record. Rising yields on bonds reduce the attractiveness of utilities as a safe-haven for dividend-oriented investors.
The “dramatic” spike in bond yields has been the primary culprit for the sector’s weakness, said Chris Kerlow, a Toronto-based portfolio manager at Richardson Wealth Ltd. The firm remains positive on Algonquin Power & Utilities Corp. because of its power and renewable exposure.