Globe & Mail Article Friday's TSX breakouts: 35 stocks have implied returns of 20% or higher
On Thursday, the S&P/TSX composite index lost some of its recent positive price momentum, closing down 73 points, or half a per cent, to 14,240.
Within the Index, 75 stocks advanced, 157 declined and two stocks were unchanged.
Given the recent rally in the TSX, many companies have average one-year price targets that represent little or even no additional upside. Of the 234 securities in the S&P/TSX composite index, there are only 35 securities that have implied one-year price returns of 20 per cent or more, which represents only 15 per cent of the Index. However, one must be cautious as many of these securities have been laggards, delivering negative year-to-date returns.
Stocks in the S&P/TSX composite index with the highest potential returns, based on the average one-year price targets by analysts are as follows: Mitel Networks, ProMetic Life Sciences, Intertain Group, Concordia Healthcare, Hudson's Bay, Cameco, Martinrea, DHX Media, Element Financial, Valeant Pharmaceuticals, Amaya, Dominion Diamond, Linamar, Canfor, Avigilon, Air Canada, Performance Sports Group, Tricon Capital Group, Magna International, West Fraser Timber, Nevsun Resources, Turquoise Hill Resources, Interfor, Great Canadian Gaming, Whitecap Resources, Advantage Oil & Gas, Colliers International Group, Freehold Royalties, DH Corp., Alimentation Couche-Tard, Lundin Mining, Canadian Pacific Railway, Enghouse Sytems, Enerflex, and Secure Energy Services.