Globe and Mail - Scott Barlow The strategy team at Scotiabank updated their quantitatively-driven “SQore 30″ list of top domestic stock picks,
“Weak economic data and Powell’s ‘higher for longer’ speech killed the nascent Quality recovery. Value (ex CDA banks), Growth, and Momentum outperformed as pre-summer trends reasserted themselves. In our view, expensive Quality is likely to keep suffering from rising rates despite investors preparing for the worst and rising default risk . Overall, Value leadership is starting to run into serious trouble as the macro cycle turns [ towards slowdown]. As such, screening for growing Quality at an affordable price for list of names) would make sense. SQoRE Canada Top 30 Additions/Deletions: TFII [TFI International], CLS [Celestica Inc.], and AAV [Advantage Oil and Gas] replace STLC [Stelco Holdings Inc.], MX [Methanex Corp] , and PXT [Parex resources Inc]. Energy dominates the list. Materials continue to be cleaned out while a rare Tech name appears. Industrials, Staples, Discretionary, and Utilities are the other major sectors.”
The other stocks in the top 30 list are Birchcliff Energy, MEG Energy, Tourmaline Oil, Enerplus, Crescent Point Energy, Whitecap Resources, Nutrien, West Fraser Timber, Winpak, Canfor, Russel Metals, Mullen Group, Ritchie Brothers Auctioneers, Exchange Income Corp., Westshore Terminals, Dollarama, Spin Master, BRP, Gildan Activewear, Loblaw Co., George Weston, Empire, Alimentation Couche-Tard, Fairfax Financial, Capital Power, Boralex, and Altagas.
“SCotiabank’s - SQoRE Canada Top 30 picks” – (table) Twitter