BNS Top Picks Scotiabank strategist have updated their list of top 30 Canadian stock picks. The firm’s SQoRE stock selection model consists of 16 factors covering value, growth, momentum and quality.
In the June update, strategist Jean-Michel Gauthier writes,
“Defensives continue their ranking recovery as Real Estate, Utilities, and Telecoms enjoy a Momentum rebound. Meanwhile, Cyclicals are hamstrung by Tech falling to its lowest rankings since the bursting of the tech bubble. Weak Industials/Discretionary trends are not helping, although Financials hit a new all time ranking high. Our pro-Resource ranking bias disappears on falling Base Metal miners. Still, Lumber and Energy are holding at their highs while Gold miners are waging a comeback”
Russell Metals Inc. and Centerra Gold Ltd. have been added, replacing First Quantum Minerals Ltd. and Sleep Country Canada Holdings Inc. The other 28 picks include Tourmaline Oil Corp., Crescent Point Energy Corp., Enerplus Corp., Teck Resources Ltd., Lundin Mining Corp., Labrador Iron Ore Royalty Corp., Transcontinental Inc., Magna International Inc., Canadian Imperial Bank of Commerce, Manulife Financial Corp., and Celestica Inc.