Market Factors: Two Canadian stocks among top global ‘contenders’
A recent analysis by BofA Securities highlights two Canadian stocks, Kinross Gold and Magna International, as top contenders for stock appreciation. The analysis identifies stocks with strong price and earnings momentum and attractive valuations as likely to outperform the market. Additionally, Scotiabank's strategy team suggests TFI International as a potential buy as it shows signs of recovery from previous lows.
- ▪BofA Securities' model categorizes stocks into contenders and defenders based on their performance attributes.
- ▪Kinross Gold and Magna International are identified as Canadian contenders with strong potential for appreciation.
- ▪Scotiabank recommends TFI International as a buy due to improving stock price momentum and positive earnings revisions.
Opening excerpt (first ~120 words) tap to expand
ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountMarket Factors begins with an interesting model identifying the most promising stock opportunities and those set to underperform. The next section is a trade idea from Scotiabank strategists and the diversion treats famous physicists like basketball players. Stock picksBuy contenders, not defendersBofA Securities global quant strategist Nigel Tupper’s contenders and defenders model identifies large-cap companies with the best and worst attributes for stock appreciation. There are two Canadian stocks among the contenders. Mr. Tupper’s analysis of earnings, price and valuation data that starts from 1990 formed the basis for the contenders and defenders dichotomy.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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