Raymond James $10 target top pick for 2018 2017-12-12 08:00 ET - In the News
The Globe and Mail reports in its Tuesday, Dec. 12, edition that Raymond James released its Canadian analysts' 2018 best picks list on Monday. The Globe's David Leeder writes that the stocks are meant to represent the firm's best ideas for the calendar year ahead. Its annual list has delivered an average holding period return of 13.3 per cent over the past 10 years, outpacing the S&P/TSX Small Cap index by 4.5 per cent on the same basis, according to Daryl Swetlishoff, the firm's head of research. One of Raymond James's picks is DIRTT Environmental Solutions ($6.02). Analyst David Quezada rates DIRTT "strong buy," with a $10 share target. Mr. Quezada says in a note: "We highlight DIRTT as a top pick, underpinned by the company's compelling value proposition, which utilizes prefabricated, modular construction as well as the company's proprietary ICE software in providing key benefits relative to conventional construction such as 75-per-cent shorter project timelines and cost certainty. Based on this, we believe DIRTT will continue to become increasingly cost competitive as conventional construction costs continue to rise due to an increasingly acute shortage of skilled labour in North America."