Second stock in the clip. GLTA
https://www.bnnbloomberg.ca/video/javed-mirza-s-top-picks~2644253
During today’s program, we’ll highlight actionable stock ideas which are components of our favoured sectors for the HFL cycle financials (NA), materials (WFG) and industrials (STN).
The recent corrective phase in equity markets that began on Feb. 1, 2023, saw further rotation out of the more defensive areas of the market, namely consumer staples, utilities, and healthcare. The beneficiaries of this rotation remain the HFL plays, notably Industrials, materials, and financials. This new HFL four-year cycle should see a transition in leadership from the names that led the 2018-22 four-year cycle, such as the Goliaths (mega-cap information technology).
National Bank of Canada (NA TSX)
West Fraser Timber (WFG TSX)
Stantec (STN TSX)
TOP PICK
West Fraser Timber(WFG-T)
09/03/2023
Materials sector. Lumber has been in a sideways consolidation, so an entry here is timely. Add towards the bottom of the trading range. Housing market will pick up later this year or early next, and the lumber names should push higher. Relative strength starting to turn up. Yield is 1.55%.
(Analysts’ price target is $139.44)
West Coast Forestry
Javed Mirza
$106.410
No