Stuart Hinshelwood is U.S. Equities Specialist at BMO Nesbitt Burns.
- Good valuation for EBITDA growth for a diversified health-care stock;
- upside from Nutritionals, Pharma, Devices & Vascular following spin-off of Abbvie (ABBV) – mostly branded drugs. Upside to $42 (U.S.) ~20 per cent
- High-quality asset manager (Templeton, Franklin & Bissett) for a decent valuation.
- 55-per-cent equity and strong performance in Templeton Global Bond with lower duration and limited U.S. government exposure which is under-appreciated by the Street.
- decent valuation, high FCF and good pure-play content and Time Inc. spin-off all catalysts
Past Picks: June 3, 2013
Total return: -7.99 per cent
Total return: +9.53 per cent
Total return: -7.46 per cent
Total return average: -1.97 per cent
Neutral – with positive bias towards equity (same as June). Recent economic data was not great (i.e. no taper), yesterday`s shot of momentum usually precedes a price peak. U.S. markets are fairly-valued for economic progress. A balanced view overall.