Daily roundup of research and analysis from he Globe and Mail’s market strategist Scott Barlow
BofA Securities quantitative strategist Savita Subramanian updated her list of top U.S. stocks for high quality and dividend yield.
Target Corp. and Tyson Foods Inc. were added to the list, while Cintas Corp., Johnson and Johnson and Robert Half International Inc. were removed because of analyst downgrades.
Rockwell Automation was also removed because its debt equity ratio rose above the stock selection limit and Viacom was deleted because of weakening profitability.
The list as it now stands includes C.H. Robinson Worldwide Inc., Quest Diagnostics Inc., Emerson Electric Co., General Dynamics Corp., Garmin Ltd., Norfolk Southern Corp., Procter and Gamble Co., Packaging Corp., Target Corp., Tyson Foods Inc. and Texas Instruments Inc.
“BofA top U.S. picks for quality and dividend yield” – (table) Twitter
***
Credit Suisse economists published their Canada Chart Pack report Wednesday which included some interesting details on the Canadian oil sector,
“Canada One of World’s Major Oil Exporters Yet Ranks First on Several ESG Metrics: Around the COP26 events, the Canada Action Coalition highlighted a number of data points in relation to the positioning of the Canadian energy sector. Notably, Canada is one of the world’s major oil exporters and ranks first on a series of environment, social and governance indices, including: Green Future Index 2021; Democracy Index 2020; Environmental Performance Index 2020; Global Peace Index 2020; Global Press Freedom Index 2020; Rule of Law Index 2020; Social Progress Index 2020; Sustainable Development Index 2020; Corruptions Perception Index 2020; and, Women, Peace, Security Index 2019/20″
“CS: “Canada One of World’s Major Oil Exporters Yet Ranks First on Several ESG Metrics”” – (research excerpt) Twitter
***
Scotiabank’s mining conference sees executives upbeat on 2022 as analyst Orest Wowkodaw reports,
“We hosted fireside chats with executive management from five larger base metal producers Ero Copper Corp., First Quantum Minerals Ltd., Hudbay Minerals Inc., Ivanhoe Mines Ltd., and Teck Resources Ltd., one U3O8 producer (Cameco Corp., and one Fe producer (Champion Iron Ltd. on day one of the 2021 Scotia Mining Conference … We highlight our key takeaways by company below and note the following major themes: (1) most of the miners have meaningful production growth over the 2022-2023 period, (2) shareholder returns appear poised to further improve in 2022 and beyond as current asset investment cycles are completed, and (3) given the current elevated commodity price environment, rising cost inflation is likely to represent only a modest drag on profitability and FCF.”
Mr. Wowkodaw has sector outperform ratings on Cameco Corp., Champion Iron Ltd., First Quantum Minerals Ltd., Hudbay Minerals Inc., Ivanhoe Mines Ltd., and Teck Resources Ltd..
“Metals miners bullish on 2022 (Scotia)” – (research excerpt) Twitter
***
Newsletter: “Top global stock picks in solar power” – Globe Investor
Diversion: “Psychiatrists are uncovering connections between viruses and mental health. They’re surprising” – Vox
Tweet of the Day:
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.