globe and mail articleHere is the article from globeandmail.com:
Infrastructure stocks look solid in the long run
SCOTT ADAMS
Investment Editor; sadams@globeandmail.com
March 27, 2008
WHAT ARE WE LOOKING FOR?
Oneof the great trends to play over the past year or more has beeninfrastructure. Today we'll look at Canadian infrastructure stocks.
MORE ABOUT THE TREND
One bull on infrastructure stocks is CIBC World Markets economistBenjamin Tal, who has written reports on them in the past. He remainsbullish though many of the stocks have fallen this year."Infrastructure is a relatively leveraged sector and therefore interestrate sensitive," he said yesterday in an e-mail. "So a credit crunch isclearly not a good thing for it. The fundamentals supporting thissector are much too good to ignore - the huge demand for infrastructureprojects, the rising P3 [public-private partnerships] activity and thegrowing involvement of pension funds in this space. So beyondshort-term volatilities this sector should outperform the S&P/TSXcomposite in the long run."
TODAY'S SCREEN
We used Thomson today to screen for earnings growth andprice-to-earnings multiples among infrastructure companies. As you cansee, many of these stocks have fallen a lot this year and lost theirprice momentum, but expected growth rates remain high andprice-to-earnings multiples are more reasonable.
Sorry I couldnt copy the list of stocks mentioned: here is the source: https://www.theglobeandmail.com/servlet/story/LAC.20080327.RCRUNCHER27/TPStory/?query=ADF+group