National Bank of Canada (NA:TSE) Fundamental Valuation Report

Fundamental Valuation Report

National Bank of Canada(NA:TSE)

Financial Services:Banks-Global

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$58.79 (CAD) 10/12/2018

Weighted Valuation
$64.28 (CAD)

Overall Rating
Undervalued by 9.3%

Valuation Models Analyst Consensus: $68.00 (CAD)
(in order of importance) Discounted Cash Flow: $68.57 (CAD)
Comparables: $44.57 (CAD)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (NA:TSE CAD)

Price 58.79
Range 58.38 – 59.35
52 week 58.69 – 65.63
Open 58.95
Vol / Avg. 840312/876606
Mkt cap 19.8B
P/E 9.90
Div/yield 2.44/0.04
EPS 5.94
Shares 335.78M
Beta 1.20

Company Description

National Bank of Canada is the sixth- largest Canadian bank. The bank offers integrated financial services, primarily in the province of Quebec as well as the city of Toronto. Operational segments include personal and commercial banking, wealth management, and a financial markets group.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for NA:TSE

Using a discounted cash flow model we generated an intrinsic value of $68.57 (CAD) for NA:TSE

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

NA:TSE Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $68.57 1% 5% 1% 5%
WACC (or Ke) 11.55 $78.35 $60.84
Terminal Growth Rate 3.00 $61.96 $76.92
Tax Rate 0.20 $73.22 $63.91
Cash Flow 3,000,617,034 $64.73 $72.40
Capital Expenditures -115,600,000 $68.44 $68.69
Long Term Debt 0 $68.57 $68.57

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $44.57 (CAD) for NA:TSE. We also generated a valuation of $63.05 (CAD) using other metrics and comparables.
The comparable companies were Bank of Montreal (BMO:NYS), Bank of Nova Scotia (BNS:NYS) and Canadian Imperial Bank (CM:NYS).

Company NA:TSE End Date Value
Earnings/Share $5.94 (CAD)
Book Value/Share $34.07 (CAD)
Sales/Share $20.40 (CAD)
Cash Flow/Share $10.69 (CAD)
EBITDA/Share $18.44 (CAD)
Price Based on Comps Adjustment Factor (%)
$66.36 (CAD) -64.6
$51.34 (CAD) 24.8
$59.66 (CAD) 6.4
$54.06 (CAD) -54.0
$0.00 (CAD) -20.7
NA:TSE Ratios Used Average Values BMO:NYS BNS:NYS CM:NYS
10.43 PE Ratio 11.17 13.37 10.59 9.56
1.78 PB Ratio 1.51 1.56 1.45 1.51
2.97 PS Ratio 2.92 2.83 3.15 2.80
5.67 PCF Ratio 5.54 6.62 4.98 5.02
0.00 EV to EBITDA 0.00 0.00 0.00 0.00

Multiples

Using a multiples approach we generated a valuation of  $71.85 (CAD) for NA:TSE

Company NA:TSE End Date Value
Earnings/Share $5.94 (CAD)
Book Value/Share $34.07 (CAD)
Sales/Share $20.40 (CAD)
Cash Flow/Share $10.69 (CAD)
EBITDA/Share $18.44 (CAD)
Price Based on Comps Adjustment Factor
$69.00 (CAD) 0
$62.08 (CAD) 0
$59.96 (CAD) 0
$41.41 (CAD) 0
$126.82 (CAD) 0
Ratios Ratio Average
PE Ratio 11.62
PB Ratio 1.82
PS Ratio 2.94
PCF Ratio 3.87
EV to EBITDA 6.88

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  NA:TSE for the last 10 years was  1.82

We ran the Adjusted Book Value for  NA:TSE and generated a book value of  $41.71 (CAD)
By multiplying these we get an adjusted valuation of  $75.92 (CAD)

Analyst Data

In the Stockcalc database there are 8 analysts that provide a valuation for NA:TSE. The 8 analysts have a concensus valuation for NA:TSE for 2019 of $68.00 (CAD).

NA:TSE National Bank of Canada

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
0 7 0 3.1250 Hold 2018-12-7

Current Price: 58.79 CAD

Analyst Consensus
CAD Millions 2019 2020 2021
Mean EPS 6.38 6.76 7.38
# EPS Analysts 9 9 1
Mean Revenue 7,622.90 7,970.40
# Revenue Analysts 7 7
Mean Target Price 68.00
Mean Cash Flow
Mean EBITDA
Mean Net Income
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Canadian National Railway (CNR:TSE) and Bank of Montreal (BMO:TSE) Are Undervalued

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I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on TSE

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSE

Today’s data is for companies listed on the Toronto Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
CNR Canadian National Railway Co 2019 104.880000 123.6723 CAD 12
SU Suncor Energy Inc 2019 41.880000 61.7333 CAD 15
BMO Bank of Montreal 2019 92.710000 112.3333 CAD 9
CM Canadian Imperial Bank of Commerce 2019 107.470000 131.6250 CAD 8
CNQ Canadian Natural Resources Ltd 2019 35.830000 55.1875 CAD 16
CP Canadian Pacific Railway Ltd 2019 252.000000 321.3941 CAD 12
WN George Weston Ltd 2019 94.810000 114.2500 CAD 4
CTC.A Canadian Tire Corp Ltd 2019 144.900000 188.3333 CAD 9
WFT West Fraser Timber Co.Ltd 2019 71.080000 87.3333 CAD 6
VET Vermilion Energy Inc 2019 31.230000 52.2500 CAD 12
X TMX Group Ltd 2019 75.380000 97.5000 CAD 6
DOO BRP Inc 2019 39.100000 68.5000 CAD 8
LNR Linamar Corp 2019 46.340000 77.0000 CAD 6
PBH Premium Brands Holdings Corp 2019 78.290000 94.5000 CAD 10
BYD.UN Boyd Group Income Fund 2019 113.800000 131.0208 CAD 12
MRC Morguard Corp 2019 175.060000 205.0000 CAD 2
ENGH Enghouse Systems Ltd 2019 67.970000 88.5000 CAD 4
LAS.A Lassonde Industries Inc 2019 200.570000 245.0000 CAD 2
MAXR Maxar Technologies Ltd 2019 18.800000 38.4959 CAD 10
EQB Equitable Group Inc 2019 62.700000 81.2857 CAD 7
CJT Cargojet Inc 2019 76.170000 95.0000 CAD 7
CGO Cogeco Inc 2019 62.110000 88.0000 CAD 2
AFN Ag Growth International Inc 2019 50.030000 71.3750 CAD 8
GSY goeasy Ltd 2019 36.630000 61.1667 CAD 6
TRIL Trillium Therapeutics Inc 2019 2.830000 19.9506 CAD 1

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

CNR:TSE Canadian National Railway

http://www.cn.ca
Canadian National Railway has 26143 employees and is headquartered in Canada.
Canadian National Railway Co is engaged in the transport sector. Its primary occupation is the rail and related transportation business.

BMO:TSE Bank of Montreal

https://www.bmo.com
Bank of Montreal has 45000 employees and is headquartered in Canada.
Bank of Montreal provides diversified financial services primarily in North America. The company offers broad range of personal and commercial banking, wealth management and investment banking products and services.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Canadian Imperial Bank (CM:TSE) Fundamental Valuation Report

Fundamental Valuation Report

Canadian Imperial Bank(CM:TSE)

Financial Services:Banks-Global

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
$112.46 (CAD) 29/11/2018

Weighted Valuation
$129.72 (CAD)

Overall Rating
Undervalued by 15.3%

Valuation Models Analyst Consensus: $133.50 (CAD)
(in order of importance) Comparables: $134.56 (CAD)
Multiples: $108.70 (CAD)
Valuation Methods This company is:
Cash Flow: Undervalued on a Cash Flow Valuation
Comparable Company: Undervalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (CM:TSE CAD)

Price 112.46
Range 111.41 – 115.17
52 week 110.11 – 124.59
Open 114.38
Vol / Avg. 3.23M/1.2M
Mkt cap 49.9B
P/E 9.85
Div/yield 5.32/0.05
EPS 11.65
Shares 443.7M
Beta 1.00

Company Description

Canadian Imperial Bank of Commerce is Canada’s fifth-largest bank, operating three business segments: retail and business banking, wealth management, and capital markets. It serves approximately 11 million personal banking and business customers, primarily in Canada.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for CM:TSE

Using a discounted cash flow model we generated an intrinsic value of $152.86 (CAD) for CM:TSE

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

CM:TSE Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $152.86 1% 5% 1% 5%
WACC (or Ke) 10.66 $176.23 $134.90
Terminal Growth Rate 3.00 $137.29 $173.12
Tax Rate 0.21 $162.80 $142.93
Cash Flow 7,496,377,181 $144.94 $160.79
Capital Expenditures -146,200,000 $152.73 $153.00
Long Term Debt 0 $152.86 $152.86

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of $134.56 (CAD) for CM:TSE. We also generated a valuation of $103.46 (CAD) using other metrics and comparables.
The comparable companies were Bank of Montreal (BMO:NYS) and Royal Bank of Canada (RY:NYS).

Company CM:TSE End Date Value
Earnings/Share $11.65 (CAD)
Book Value/Share $72.42 (CAD)
Sales/Share $39.56 (CAD)
Cash Flow/Share $29.51 (CAD)
EBITDA/Share $31.82 (CAD)
Price Based on Comps Adjustment Factor (%)
$146.34 (CAD) -58.3
$125.73 (CAD) 47.1
$120.39 (CAD) 23.8
$156.35 (CAD) -13.5
$0.00 (CAD) -81.2
CM:TSE Ratios Used Average Values BMO:NYS RY:NYS
9.95 PE Ratio 12.56 13.25 11.87
1.57 PB Ratio 1.74 1.55 1.92
2.87 PS Ratio 3.04 2.81 3.28
3.85 PCF Ratio 5.61 6.56 4.66
0.00 EV to EBITDA 0.00 0.00 0.00

Multiples

Using a multiples approach we generated a valuation of  $108.70 (CAD) for CM:TSE

Company CM:TSE End Date Value
Earnings/Share $11.65 (CAD)
Book Value/Share $72.42 (CAD)
Sales/Share $39.56 (CAD)
Cash Flow/Share $29.51 (CAD)
EBITDA/Share $31.82 (CAD)
Price Based on Comps Adjustment Factor
$123.16 (CAD) 0
$136.53 (CAD) 0
$112.84 (CAD) 0
$107.00 (CAD) 0
$63.98 (CAD) 0
Ratios Ratio Average
PE Ratio 10.57
PB Ratio 1.89
PS Ratio 2.85
PCF Ratio 3.63
EV to EBITDA 2.01

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  CM:TSE for the last 10 years was  1.89

We ran the Adjusted Book Value for  CM:TSE and generated a book value of  $78.91 (CAD)
By multiplying these we get an adjusted valuation of  $149.05 (CAD)

Analyst Data

In the Stockcalc database there are 8 analysts that provide a valuation for CM:TSE. The 8 analysts have a concensus valuation for CM:TSE for 2019 of $133.50 (CAD).

CM:TSE Canadian Imperial Bank

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 5 0 3.6667 Outperform 2018-11-28

Current Price: 112.46 CAD

Analyst Consensus
CAD Millions 2019 2020
Mean EPS 12.70 13.32
# EPS Analysts 8 7
Mean Revenue 18,799.00 19,797.00
# Revenue Analysts 6 4
Mean Target Price 133.50
Mean Cash Flow
Mean EBITDA
Mean Net Income
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate
Mean Capital Expenditure

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Suncor Energy (SU:TSE) and Teck Resources (TECK.A:TSE) Are Undervalued

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com



I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on TSE

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSE

Today’s data is for companies listed on the Toronto Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
SU Suncor Energy Inc 2019 43.050000 61.7333 CAD 15
BMO Bank of Montreal 2019 97.690000 115.5000 CAD 8
CM Canadian Imperial Bank of Commerce 2019 113.680000 133.7500 CAD 8
CNQ Canadian Natural Resources Ltd 2019 33.590000 56.6250 CAD 16
CP Canadian Pacific Railway Ltd 2019 269.960000 320.9138 CAD 12
WN George Weston Ltd 2019 95.000000 114.2500 CAD 4
TECK.A Teck Resources Ltd 2019 26.610000 42.4444 CAD 9
TECK.B Teck Resources Ltd 2019 26.450000 42.4444 CAD 9
CTC.A Canadian Tire Corp Ltd 2019 150.820000 188.3333 CAD 9
WFT West Fraser Timber Co.Ltd 2019 70.680000 87.3333 CAD 6
VET Vermilion Energy Inc 2019 33.170000 52.6667 CAD 12
X TMX Group Ltd 2019 77.000000 97.5000 CAD 6
DOO BRP Inc 2019 43.410000 75.5000 CAD 8
LNR Linamar Corp 2019 50.990000 77.0000 CAD 6
CCA Cogeco Communications Inc 2019 63.420000 81.6111 CAD 9
PBH Premium Brands Holdings Corp 2019 73.980000 94.5000 CAD 10
BYD.UN Boyd Group Income Fund 2019 105.910000 130.8750 CAD 12
MRC Morguard Corp 2019 178.980000 205.0000 CAD 2
ENGH Enghouse Systems Ltd 2019 69.440000 88.5000 CAD 4
LAS.A Lassonde Industries Inc 2019 208.640000 245.0000 CAD 2
CJT Cargojet Inc 2019 79.340000 95.0000 CAD 7
AFN Ag Growth International Inc 2019 54.160000 71.2500 CAD 8
CGO Cogeco Inc 2019 60.270000 88.0000 CAD 2
GSY goeasy Ltd 2019 38.540000 62.6667 CAD 6
TRIL Trillium Therapeutics Inc 2019 3.640000 19.7731 CAD 1

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

SU:TSE Suncor Energy

http://www.suncor.com
Suncor Energy has 12381 employees and is headquartered in Canada.
Suncor Energy Inc is a Canadian integrated energy company. It operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, product marketing and a renewable energy portfolio.

TECK.A:TSE Teck Resources

http://www.teck.com
Teck Resources has 9600 employees and is headquartered in Canada.
Teck Resources Ltd is a mining company whose activities include exploration, development, processing, smelting, refining and reclamation. It has operations in Canada, United States, Chile and Peru. The company’s products are coal, copper, zinc and lead.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

George Weston (WN:TSE) and Canadian Tire Corp (CTC.A:TSE) Are Undervalued

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Have a free look inside the StockCalc website at www.stockcalc.com



I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on TSE

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSE

Today’s data is for companies listed on the Toronto Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
RY Royal Bank of Canada 2019 95.370000 111.7500 CAD 8
SU Suncor Energy Inc 2019 43.680000 62.4000 CAD 15
BMO Bank of Montreal 2019 99.050000 116.5000 CAD 8
CM Canadian Imperial Bank of Commerce 2019 114.280000 135.1250 CAD 8
CNQ Canadian Natural Resources Ltd 2019 35.700000 57.4375 CAD 16
CP Canadian Pacific Railway Ltd 2019 275.900000 318.4630 CAD 13
WN George Weston Ltd 2019 95.000000 112.0000 CAD 4
CTC.A Canadian Tire Corp Ltd 2019 152.680000 188.3333 CAD 9
SNC SNC-Lavalin Group Inc 2019 46.190000 62.3636 CAD 11
TSGI The Stars Group Inc 2019 23.330000 39.9000 CAD 5
WFT West Fraser Timber Co.Ltd 2019 69.520000 87.3333 CAD 6
VET Vermilion Energy Inc 2019 33.110000 52.6667 CAD 12
DOO BRP Inc 2019 48.110000 75.5000 CAD 8
X TMX Group Ltd 2019 79.250000 97.5000 CAD 6
CCA Cogeco Communications Inc 2019 64.110000 81.6111 CAD 9
LNR Linamar Corp 2019 48.630000 77.0000 CAD 6
PBH Premium Brands Holdings Corp 2019 70.640000 98.9000 CAD 10
BYD.UN Boyd Group Income Fund 2019 109.630000 130.8750 CAD 12
MRC Morguard Corp 2019 180.830000 205.0000 CAD 2
ENGH Enghouse Systems Ltd 2019 71.900000 88.5000 CAD 4
LAS.A Lassonde Industries Inc 2019 210.510000 245.0000 CAD 2
CGO Cogeco Inc 2019 61.500000 88.0000 CAD 2
AFN Ag Growth International Inc 2019 53.310000 71.2500 CAD 8
GSY goeasy Ltd 2019 39.090000 62.6667 CAD 6
TRIL Trillium Therapeutics Inc 2019 3.690000 19.7439 CAD 1

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

WN:TSE George Weston

http://www.weston.ca
George Weston has 198000 employees and is headquartered in Canada.
George Weston Limited is in food and drug retail business through its control of Loblaw Companies Ltd which provides with pharmacy, health, apparel, general merchandise, banking, credit card services; and Weston Foods offering fresh and frozen products.

CTC.A:TSE Canadian Tire Corp

http://www.canadiantire.ca
Canadian Tire Corp has 29710 employees and is headquartered in Canada.
Canadian Tire Corp Ltd operates a nationwide store network that sells home goods, sporting equipment, apparel, footwear, automotive parts and accessories. Its stores are branded under the name Mark’s, Sport Chek, Atmosphere, and PartSource monikers.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Canadian Imperial Bank (CM:TSE) and Canadian Natural Res (CNQ:TSE) Are Undervalued

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com



I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on TSE

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSE

Today’s data is for companies listed on the Toronto Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
RY Royal Bank of Canada 2019 95.950000 111.7500 CAD 8
SU Suncor Energy Inc 2019 44.410000 62.4000 CAD 15
BMO Bank of Montreal 2019 98.870000 116.5000 CAD 8
CM Canadian Imperial Bank of Commerce 2019 115.230000 135.1250 CAD 8
CNQ Canadian Natural Resources Ltd 2019 37.160000 57.4375 CAD 16
CP Canadian Pacific Railway Ltd 2019 275.650000 318.3394 CAD 13
WN George Weston Ltd 2019 93.770000 111.5000 CAD 4
TECK.A Teck Resources Ltd 2019 27.010000 42.4444 CAD 9
CTC.A Canadian Tire Corp Ltd 2019 162.640000 188.3333 CAD 9
SNC SNC-Lavalin Group Inc 2019 46.570000 62.3636 CAD 11
TSGI The Stars Group Inc 2019 22.870000 39.9000 CAD 5
WFT West Fraser Timber Co.Ltd 2019 65.370000 88.6667 CAD 6
DOO BRP Inc 2019 50.780000 75.5000 CAD 8
VET Vermilion Energy Inc 2019 31.620000 52.6667 CAD 12
X TMX Group Ltd 2019 79.530000 96.6667 CAD 6
CCA Cogeco Communications Inc 2019 64.990000 81.6111 CAD 9
LNR Linamar Corp 2019 48.210000 77.0000 CAD 6
PBH Premium Brands Holdings Corp 2019 87.570000 127.7500 CAD 10
BYD.UN Boyd Group Income Fund 2019 114.970000 131.5000 CAD 12
MRC Morguard Corp 2019 184.950000 205.0000 CAD 2
ENGH Enghouse Systems Ltd 2019 73.290000 88.5000 CAD 4
LAS.A Lassonde Industries Inc 2019 214.400000 277.5000 CAD 2
CGO Cogeco Inc 2019 62.650000 88.0000 CAD 2
GSY goeasy Ltd 2019 40.160000 62.6667 CAD 6
TRIL Trillium Therapeutics Inc 2019 4.290000 19.6944 CAD 1

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

CM:TSE Canadian Imperial Bank

http://www.cibc.com
Canadian Imperial Bank has 45091 employees and is headquartered in Canada.
Canadian Imperial Bank of Commerce is a Canadian-based financial institution. The company serves its clients through retail and business banking, wealth management and wholesale banking.

CNQ:TSE Canadian Natural Res

http://www.cnrl.com
Canadian Natural Res has 9973 employees and is headquartered in Canada.
Canadian Natural Resources Ltd is an oil and natural gas producers in Western Canada. Its portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Westpac Banking (WBK:NYS) Fundamental Valuation Report

Fundamental Valuation Report

Westpac Banking(WBK:NYS)

Financial Services:Banks-Global

This Report was generated using the valuation tools available on StockCalc.com. For a free 30 day trial click here.

Close Price/Date
27.50 (AUD) / $19.92 (USD) 08/11/2018

Weighted Valuation
29.05 (AUD) / $21.04 (USD)

Use a conversion rate of 0.7243228 from AUD to USD.

Overall Rating
Undervalued by 5.6%

Valuation Models Analyst Consensus: 31.25 (AUD) / $22.64 (USD)
(in order of importance) Discounted Cash Flow: 28.59 (AUD) / $20.71 (USD)
Comparables: 23.34 (AUD) / $16.91 (USD)
Valuation Methods This company is:
Cash Flow: Fairly valued on a Cash Flow Valuation
Comparable Company: Overvalued on a Comparable Valuation
Asset: Undervalued on an Asset Valuation

Company Overview (WBK:NYS USD)

Price 0.00
Range 0.00 – 0.00
52 week 0.00 – 0.00
Open 0.00
Vol / Avg. 0/0
Mkt cap 0
P/E 0.00
Div/yield 0.00/0.00
EPS 0.00
Shares 0
Beta 0.00

Company Description

Westpac is Australia’s oldest bank and financial services group, with a significant franchise in Australia and New Zealand in the consumer, small business, corporate, and institutional sectors, in addition to its major presence in wealth management. Westpac is among a handful of banks around the globe currently retaining very high credit ratings, and ranks third in assets across the four major Australian banks. The bank benefits from a large national branch network and significant market share, particularly in home loans and retail deposits.

Valuation Details

 We have up to 6 valuation points for each company. Details are at the bottom of the report.

Discounted Cash Flow and Sensitivity Analysis for WBK:NYS

Using a discounted cash flow model we generated an intrinsic value of 28.59 (AUD) / $20.71 (USD) for WBK:NYS

Sensitivity Analysis

(showing how changes in the input variables impact the DCF calculation)

WBK:NYS Current Values Valuation If Dropped * Valuation If Raised *
Calculated Value: $28.59 1% 5% 1% 5%
WACC (or Ke) 11.05 $32.65 $25.43
Terminal Growth Rate 3.00 $25.87 $32.08
Tax Rate 0.31 $30.70 $26.48
Cash Flow 12,940,833,476 $27.10 $30.07
Capital Expenditures -411,600,000 $28.55 $28.63
Long Term Debt 0 $28.59 $28.59

* Changes are absolute: ex WACC from 8% to 7%

Comparables Model

Using similar companies and price based ratios we generated a valuation of 23.34 (AUD) / $16.91 (USD) for WBK:NYS. We also generated a valuation of 16.24 (AUD) / $11.76 (USD) using other metrics and comparables.
The comparable companies were Bank of Montreal (BMO:TSE), Canadian Imperial Bank (CM:TSE), Sumitomo Mitsui Financial (SMFG:NYS) and UBS Group (UBS:NYS).

Company WBK:NYS End Date Value
Earnings/Share 2.30 (AUD) / $1.67 (USD)
Book Value/Share 17.90 (AUD) / $12.96 (USD)
Sales/Share 5.94 (AUD) / $4.30 (USD)
Cash Flow/Share 3.03 (AUD) / $2.20 (USD)
EBITDA/Share 7.88 (AUD) / $5.71 (USD)
Price Based on Comps Adjustment Factor (%)
36.35 (AUD) / $26.33 (USD) -55.9
21.31 (AUD) / $15.43 (USD) 35.0
13.66 (AUD) / $9.90 (USD) 94.8
-60.87 (AUD) / ($44.09) (USD) 97.7
0.00 (AUD) / $0.00 (USD) 0.0
WBK:NYS Ratios Used Average Values BMO:TSE CM:TSE SMFG:NYS UBS:NYS
11.28 PE Ratio 15.80 13.30 9.95 8.18 31.76
1.46 PB Ratio 1.19 1.55 1.57 0.58 1.05
4.40 PS Ratio 2.30 2.82 2.87 1.69 1.82
8.61 PCF Ratio 3.66 6.59 3.85 0.55 0.00
0.00 EV to EBITDA 0.00 0.00 0.00 0.00 0.00

Multiples

Using a multiples approach we generated a valuation of  61.01 (AUD) / $44.19 (USD) for WBK:NYS

Company WBK:NYS End Date Value
Earnings/Share 2.30 (AUD) / $1.67 (USD)
Book Value/Share 17.90 (AUD) / $12.96 (USD)
Sales/Share 5.94 (AUD) / $4.30 (USD)
Cash Flow/Share 3.03 (AUD) / $2.20 (USD)
EBITDA/Share 7.88 (AUD) / $5.71 (USD)
Price Based on Comps Adjustment Factor
31.27 (AUD) / $22.65 (USD) 0
32.83 (AUD) / $23.78 (USD) 0
30.30 (AUD) / $21.95 (USD) 0
48.68 (AUD) / $35.26 (USD) 0
161.98 (AUD) / $117.32 (USD) 0
Ratios Ratio Average
PE Ratio 13.59
PB Ratio 1.83
PS Ratio 5.10
PCF Ratio 16.04
EV to EBITDA 20.55

Adjusted Book Value versus Historical Price to Book

The average the Price to Book ratio for  WBK:NYS for the last 10 years was  1.83

We ran the Adjusted Book Value for  WBK:NYS and generated a book value of  18.82 (AUD) / $13.63 (USD)
By multiplying these we get an adjusted valuation of  34.44 (AUD) / $24.95 (USD)

Analyst Data

In the Stockcalc database there are 2 analysts that provide a valuation for WBK:NYS. The 2 analysts have a concensus valuation for WBK:NYS for 2019 of 31.25 (AUD) / $22.64 (USD).

WBK:NYS Westpac Banking

Analyst Recommendation
Buy Hold Sell Rating
(of 5)
Guidance As Of
2 2 0 4.0000 Outperform 2018-11-7

Current Price: 19.92 USD

Analyst Consensus
AUD Millions 2019 2020 2021
Mean EPS 2.40 2.47 2.40
# EPS Analysts 6 5 1
Mean Revenue 22,597.90 23,405.80 23,676.50
# Revenue Analysts 5 4 1
Mean Target Price 31.25
Mean Cash Flow 3.55 3.67 3.70
Mean EBITDA
Mean Net Income 8,403.00 8,726.10 8,845.70
Mean Debt Outstanding
Mean Tax Rate
Mean Growth Rate 2.00
Mean Capital Expenditure

Explanation of Valuation Models

We have up to 6 valuation points for each company in the database.

The Discounted Cash Flow (DCF) valuation is a cash flow model where cash flow projections are discounted back to the present to calculate value per share. DCF is a common valuation technique especially for companies undergoing irregular cash flows such as resource companies (mining, forestry, oil and gas) going though price cycles or smaller companies about to generate cash flow (junior exploration companies, junior pharma, technology firms…).

The Price Comparables valuation is the result of valuing the company we are looking at on the basis of ratios from selected comparable companies: Price to Earnings, Price to Book, Price to Sales, Price to Cash Flow, Enterprise Value (EV) to EBITDA. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

We have included the Other Comparables as a way to value companies that cannot be valued using Earnings based ratios. This technique is very useful for companies still experiencing negative cash flows such as mining exploration firms. We use Cash/Share, Book Value/Share, MarketCap, 1 Year Return, NetPPE as the ratios here. Each of these ratios for the selected comparable companies are averaged and multiplied by the values for the company we are interested in to calculate a value per share for our selected company.

Multiples are similar to Price comparables where we look at current or historic ratios for the company in question to assess what it should be worth today based on those historic ratios. We use the same 5 ratios as in the price comparables and value the company with its historic averages.

With Adjusted Book Value (ABV) we calculate the book value per share for the company based on its balance sheet and multiply that book value per share by its historical price to book ratio to calculate a value per share.

If we have Analyst coverage for the company we use the consensus target price here.

Notice to User


The contents of this report and the Stockcalc website are provided on an ‘‘as is’’ or ‘‘as available’’ basis with all faults and may not be current in all cases. The information in this report or on the website is subject to continuous change and Patchell Brook Equity Analytics Inc. assumes no responsibility to update or amend such information or that the information will be current. Patchell Brook Equity Analytics Inc. does not claim that all information, calculations or opinions presented in this report or on its website are true, reliable, or complete. Accordingly, you should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment or other decision. Any information, data, opinions, calculations or recommendations provided by third parties through links to other websites or otherwise made available through this report or website are solely those of the third party and not of Patchell Brook Equity Analytics Inc. Please refer to the Terms of Use on stockcalc.com for further information.
To access all of the tools on Stockcalc, including more detailed valuation reports and the models used to generate these valuations, please subscribe for a free 30 day trial of Stockcalc here.


Royal Bank of Canada (RY:TSE) and Bank of Montreal (BMO:TSE) Are Undervalued

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com



I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on TSE

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSE

Today’s data is for companies listed on the Toronto Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
RY Royal Bank of Canada 2019 95.750000 112.0000 CAD 8
SU Suncor Energy Inc 2019 44.080000 62.4000 CAD 15
BMO Bank of Montreal 2019 98.450000 116.7500 CAD 8
CM Canadian Imperial Bank of Commerce 2019 113.870000 135.3750 CAD 8
CNQ Canadian Natural Resources Ltd 2019 37.500000 57.4375 CAD 16
TRP TransCanada Corp 2019 50.750000 66.8000 CAD 10
CP Canadian Pacific Railway Ltd 2019 269.450000 318.2597 CAD 13
L Loblaw Companies Ltd 2019 52.100000 76.1429 CAD 7
WN George Weston Ltd 2019 90.600000 111.3333 CAD 3
TECK.A Teck Resources Ltd 2019 27.890000 43.1111 CAD 9
CCL.B CCL Industries Inc 2019 56.820000 72.6875 CAD 8
CTC.A Canadian Tire Corp Ltd 2019 149.350000 189.5556 CAD 9
SNC SNC-Lavalin Group Inc 2019 46.750000 62.3636 CAD 11
TSGI The Stars Group Inc 2019 27.630000 48.2000 CAD 5
VET Vermilion Energy Inc 2019 34.050000 52.6667 CAD 12
DOO BRP Inc 2019 53.310000 75.5000 CAD 8
LNR Linamar Corp 2019 56.390000 79.1667 CAD 6
CCA Cogeco Communications Inc 2019 65.250000 81.6111 CAD 9
PBH Premium Brands Holdings Corp 2019 87.000000 127.7500 CAD 10
MRC Morguard Corp 2019 185.710000 205.0000 CAD 2
ENGH Enghouse Systems Ltd 2019 72.020000 88.5000 CAD 4
LAS.A Lassonde Industries Inc 2019 231.160000 277.5000 CAD 2
MAXR Maxar Technologies Ltd 2019 21.290000 39.0330 CAD 10
CGO Cogeco Inc 2019 64.140000 88.0000 CAD 2
GSY goeasy Ltd 2019 44.020000 63.5000 CAD 6

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

RY:TSE Royal Bank of Canada

http://www.rbc.com
Royal Bank of Canada has 82236 employees and is headquartered in Canada.
Royal Bank of Canada is one of the largest Canadian banks. It provides diversified financial services, personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services worldwide.

BMO:TSE Bank of Montreal

https://www.bmo.com
Bank of Montreal has 45000 employees and is headquartered in Canada.
Bank of Montreal provides diversified financial services primarily in North America. The company offers broad range of personal and commercial banking, wealth management and investment banking products and services.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

TransCanada (TRP:TSE) and Canadian Pacific Railway (CP:TSE) Are Undervalued

Stockcalc – Free Trial

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I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on TSE

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSE

Today’s data is for companies listed on the Toronto Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
SU Suncor Energy Inc 2019 44.360000 62.4000 CAD 15
CM Canadian Imperial Bank of Commerce 2019 112.240000 135.3750 CAD 8
TRP TransCanada Corp 2019 49.780000 66.8000 CAD 10
CNQ Canadian Natural Resources Ltd 2019 36.910000 57.5000 CAD 16
CP Canadian Pacific Railway Ltd 2019 256.990000 317.7972 CAD 13
TECK.B Teck Resources Ltd 2019 24.800000 44.0556 CAD 9
TECK.A Teck Resources Ltd 2019 24.900000 44.0556 CAD 9
WN George Weston Ltd 2019 90.920000 115.3333 CAD 3
CTC.A Canadian Tire Corp Ltd 2019 148.060000 191.4444 CAD 9
CCL.B CCL Industries Inc 2019 53.310000 72.6875 CAD 8
CCL.A CCL Industries Inc 2019 55.440000 72.6875 CAD 8
SNC SNC-Lavalin Group Inc 2019 46.230000 63.4545 CAD 11
TSGI The Stars Group Inc 2019 26.950000 52.6000 CAD 5
VET Vermilion Energy Inc 2019 35.640000 52.6667 CAD 12
DOO BRP Inc 2019 53.320000 75.5000 CAD 8
WFT West Fraser Timber Co.Ltd 2019 65.640000 88.6667 CAD 6
LNR Linamar Corp 2019 54.300000 79.1667 CAD 6
CCA Cogeco Communications Inc 2019 64.980000 82.5000 CAD 9
PBH Premium Brands Holdings Corp 2019 89.150000 127.7500 CAD 10
MAXR Maxar Technologies Ltd 2019 36.070000 73.2709 CAD 10
MRC Morguard Corp 2019 176.010000 205.0000 CAD 2
ENGH Enghouse Systems Ltd 2019 71.390000 88.5000 CAD 4
LAS.A Lassonde Industries Inc 2019 236.470000 277.5000 CAD 2
CGO Cogeco Inc 2019 60.920000 87.5000 CAD 2
GSY goeasy Ltd 2019 42.150000 64.4000 CAD 5

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

TRP:TSE TransCanada

http://www.transcanada.com
TransCanada has 6779 employees and is headquartered in Canada.
TransCanada Corp is an energy infrastructure company. Its business segments include, Natural Gas Pipelines, Liquid Pipelines and Energy. The company has pipeline and power generation assets in Canada, the United States, and Mexico.

CP:TSE Canadian Pacific Railway

http://www.cpr.ca
Canadian Pacific Railway has 13000 employees and is headquartered in Canada.
Canadian Pacific Railway Ltd is engaged in rail transportation. It provides freight transportation services, logistics solutions, and supply chain expertise in Canada and the United States.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Bank of Nova Scotia (BNS:TSE) and Suncor Energy (SU:TSE) Are Undervalued

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com



I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on TSE

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSE

Today’s data is for companies listed on the Toronto Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
BNS Bank of Nova Scotia 2019 71.170000 85.6111 CAD 9
SU Suncor Energy Inc 2019 46.850000 62.4000 CAD 15
CM Canadian Imperial Bank of Commerce 2019 115.740000 135.3750 CAD 8
CNQ Canadian Natural Resources Ltd 2019 37.170000 57.8125 CAD 16
CP Canadian Pacific Railway Ltd 2019 261.110000 317.6862 CAD 13
TECK.B Teck Resources Ltd 2019 30.610000 45.1111 CAD 9
WN George Weston Ltd 2019 92.020000 115.3333 CAD 3
CTC.A Canadian Tire Corp Ltd 2019 150.430000 191.4444 CAD 9
CCL.A CCL Industries Inc 2019 55.000000 72.6875 CAD 8
CCL.B CCL Industries Inc 2019 55.830000 72.6875 CAD 8
TSGI The Stars Group Inc 2019 30.520000 52.6000 CAD 5
SNC SNC-Lavalin Group Inc 2019 46.910000 63.8182 CAD 11
VET Vermilion Energy Inc 2019 37.990000 56.2083 CAD 12
DOO BRP Inc 2019 54.480000 75.5000 CAD 8
IAG Industrial Alliance Insurance and Financial Services Inc 2019 47.400000 63.2222 CAD 9
WFT West Fraser Timber Co.Ltd 2019 66.850000 92.3333 CAD 6
LNR Linamar Corp 2019 53.030000 81.8333 CAD 6
PBH Premium Brands Holdings Corp 2019 92.700000 127.7500 CAD 10
MAXR Maxar Technologies Ltd 2019 40.730000 73.8028 CAD 10
MRC Morguard Corp 2019 175.060000 205.0000 CAD 2
LAS.A Lassonde Industries Inc 2019 238.770000 277.5000 CAD 2
CGO Cogeco Inc 2019 63.090000 87.5000 CAD 2
EQB Equitable Group Inc 2019 61.180000 75.8571 CAD 7
GSY goeasy Ltd 2019 45.500000 64.4000 CAD 5
TRIL Trillium Therapeutics Inc 2019 4.880000 19.4329 CAD 1

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

BNS:TSE Bank of Nova Scotia

http://www.scotiabank.com
Bank of Nova Scotia has 89809 employees and is headquartered in Canada.
Bank of Nova Scotia is an international bank and a financial service provider. The company provides personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets services.

SU:TSE Suncor Energy

http://www.suncor.com
Suncor Energy has 12381 employees and is headquartered in Canada.
Suncor Energy Inc is a Canadian integrated energy company. It operations include oil sands development and upgrading, offshore oil and gas production, petroleum refining, product marketing and a renewable energy portfolio.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.