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Research report

Echelon Wealth's top stock picks for the third quarter Add to ...

Globe editors have posted this research report with permission of Echelon Wealth Partner. This should not be construed as an endorsement of the report’s recommendations. For more on The Globe’s disclaimers please read here. The following is excerpted from the report:

We are introducing three new names to our Top Pick Portfolio, with Russ Stanley submitting The Canadian Bioceutical Corporation (BCC-CN, $0.34, speculative buy, PT $0.65) and Pioneering Technology (PTE-X, $1.27, speculative buy, PT $1.60). Russ elected to switch from last quarter’s Canopy Growth to BCC, given the latter’s unique exposure to the U.S. market. With three of last week’s top-performing cannabis stocks being companies focused on the U.S. market, we believe investor attention is beginning to shift south of the border.

Moreover, with several acquisitions expected to close this summer, the next few months should be catalyst-rich for BCC, making it a particularly timely investment opportunity. Russ introduced coverage of Pioneering during the quarter, and as of writing, the stock is up 27 per cent since initiation. However, we believe there is considerable upside to our estimates/valuation, given the potential for PTE to penetrate the OEM electric coil stove market, while our current forecast reflects the after-market opportunity alone.

Our third new name, Auryn Resources (AUG-T, $3.04, speculative buy, PT $4.50), represents the Top Pick Portfolio’s third mining name, thereby increasing our commodity exposure while adding another catalyst rich security.


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