RE:TD Target...Big bank analysts are followers, not forecasters. They will hug consensus or lose their jobs if they're ever wrong and get nothing if they're right. But one number caught my eye that this analyst obviously missed commenting on. Using his own forecast for the $cdn of 78 THIS year and next year. Well it's more like 73 and that's what explains the lack of debt repayment due to the mark to market at 73 cents. So what he missed was, if our dollar returns to 78 from 73, which is easy to see happening, then for every $100 million USD debt, the mark down, or magical debt REPAYMENT, will be ..... let's see, carry the one ..... about $ 9 million. Don't make me show my work. How much $USD debt they have? Let's round her to $1 Billion USD at sept 30, so a bounce to a 78 cent dollar and poof! Debt is reduced by $90 million CDN without using a single $ of cash flow. That's a bigga meatball !
red2000 wrote: just before the Q3 meeting ! Again very conservative number ! 