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John Stephenson. (Della Rollins For The Globe and Mail)
John Stephenson. (Della Rollins For The Globe and Mail)

BNN Market Call

3 top stock picks from First Asset’s John Stephenson Add to ...

John Stephenson is senior vice-president and portfolio manager at First Asset Investment Management. His focus is on North American large caps and resource stocks.

Top picks:

Citigroup Inc.
Citigroup is a re-rated stock that is trading at a significant discount.

KKR & Co.
KKR is levered to the recovery in the global economy and has an extremely strong balance sheet

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JPMorgan Chase & Co.
JPMorgan offers a best-in-class management team and a diversity of revenue streams.

Past picks: April 10, 2012

First Quantum Minerals Ltd.
Then: $20.93
Now: $19.23
Total return: –6.69 per cent

Potash Corp. of Saskatchewan Inc.
Then: $43.67
Now: $43.86
Total return: +2.80 per cent

Cenovus Energy Inc.
Then: $37.42
Now: $31.12
Total return: –14.03 per cent

Total return average: –5.97 per cent

Market outlook:

Investors should continue to overweight U.S. equities in their investment portfolios as the relative fundamentals in the U.S. are improving (consumer confidence, jobs, debt-to-disposable-income and house prices) whereas the Canadian outlook is deteriorating in the face of slower Chinese growth.

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