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The wise investor | Louis Vachon buys another block of BCE shares



Every Sunday, we shine the spotlight on financial and stock market news items that may be useful to the investor, but which may have passed under the radar.

Louis Vachon has just purchased BCE shares for $300,000.

The former CEO of National Bank purchased on March 2 a block of 5,000 shares of ECB at a unit price of $59.96. This is the second time he has bought BCE shares in four months. He had also bought a block of 5,000 shares in mid-November.

Louis Vachon has been a member of BCE’s Board of Directors since October.

TD analyst Tim James on Friday withdrew his sell suggestion on the stock. Transat. However, he still does not recommend buying the stock. His decision to adopt a more constructive, but cautious position, is taken after seeing the figures for the beginning of the year from the Montreal tour operator. He asks for additional evidence of the ability to generate financial flows and operating profits on a sustainable basis before proposing the purchase. The recovery is progressing faster than expected, but the stock’s upside isn’t big enough to warrant a buy, he said.

Transcontinental lost the support of National Bank Financial in the middle of the week. Analyst Adam Shine withdrew his buy recommendation on Wednesday after learning about the early-year financial performance of the Montreal printer, which also specializes in flexible packaging. The results are affected by a “significant drop in flyer volumes and the reduction in distribution activities in a context of macroeconomic pressures exacerbating secular declines”, he says, adjusting his expectations more cautiously. They are now only two out of four analysts to suggest the purchase.

Nuvei gained a new fan on Thursday. Analyst Tim Chiodo, of the firm Credit Suisse, now suggests buying the action of the Montreal provider of electronic payment solutions. This expert made his decision after the unveiling of year-end results that exceeded his expectations and foreshadowed great things for the future.

The fall in the share of Theratechnologies this winter puts the title of the Montreal biopharmaceutical at risk of being delisted from the NASDAQ. The company, also listed on the Toronto Stock Exchange, received a notice this week informing it that to avoid delisting, its share price must go back to US$1 or more for 10 consecutive sessions over the next six months. Being listed on NASDAQ notably offers attractive liquidity for the biotech sector and its investors.

Contrary to the shocking position of some observers (see François Trahan) that the recession is “inevitable” and that we are heading towards “the apocalypse”, strategist Sébastien Mc Mahon, at iA Gestion de placements, says he is reviewing lowers the odds of a recession in 2023, but revises them up for 2024. In the monthly commentary he just released, he now says he expects the Bank of Canada to quickly emerge from its pause and continue its policy rate hikes, which it predicts could hit the 6% mark by the end of the year. “We maintain a defensive positioning in our portfolios despite the strong start to the year on the markets. »

The long-term growth prospects ofAir Canada are not appreciated at their fair value, according to analyst Cameron Doerksen of National Bank Financial. In a note published this month, he lists many favorable factors including, but not limited to, high and growing levels of immigration to the country, which will increase both the size of the potential market and the demand for international travel. This increase in immigration (and the number of international students in Canada) will lead to an increase in demand for international air travel, he said. He also expects inbound tourism to Canada to continue to recover, and the wave of baby boomer retirements, in particular, will represent a secular growth engine for air travel.

The Quebec titles of 5N More, CGI, Bomber, Stella Jones, TFI And WSP all reached a new 52-week high on the Toronto Stock Exchange this week. On the other hand, the titles of Taiga, Transcontinental And LXRandCo hit a 52-week low this week.

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