RE:RE:RE:CIBC shorters. GLTALongsThank you for a great post.
Primo, Jacob Bout success rate is 53% about what i get when i toss a dime. Source: tipranks.com
Secundo: He has a buy on STN and WSP and a neutral on SNC. Same source. With what we know on SNC, my take is either ignorant of the facts, or has an agenda, or simply speculative. Scotia and NBF just expressed they were bullish on SNC and Jacob pops out to justify his 30$. The latter is most likely.
Quarto: We have used about 20% of the 300m enveloppe tagged for losses. And we have about 150m in works to complete the two Ontario projects and about 350m to complete the REM with the CDPQ. Doubtful we cross the 300m (1.75$ per share in losses in total). Merely mentionning the substantial uindervaluation is justified, reinforces the 3 thesis raised in item 2 above.
Quinto: Jacob will upgrade to BUY when we reach 40$ on better visibility and 50$ as we complete the LSTK. They all do this. That is why they are on this side of the investment barrier.
Sexto: I have again substantially reduced my cost average, thanks to those who listened to him in the first place.