Added to Top 40 List RBC Capital Markets analyst Bish Koziol made three changes to the firm’s top 40 list of stock picks. The removals were all rate sensitive – BCE Inc. , National Bank of Canada and Fortis Inc. – while adding three energy stocks in Ovintiv Inc. , ARC Resources Ltd. and Suncor Energy Inc.
“Our Canada Overall Top 40 declined 2.3 per cent last month, however the Portfolio outperformed the 3.3-per-cent drop on the S&P/TSX Composite. Year-to-date the Portfolio has gained 7.3 per cent compared to the 3.4-per-cent gain of the S&P/TSX Composite. Declines in Communication Services and Industrials were the primary groups attributable to the drop last month. All three additions this month are from the Energy sector, thereby doubling the group’s weighting in the Model Portfolio to 15 per cent. Amongst the deletions, all realized worsening Value scores.”