CINEPLEX GALAXY INCOME FUND: (CGX.UN-TSX)
Yesterday's close $17.59, up 29¢
Cineplex Galaxy Income Fund is still getting rave reviews. Its units are up 74 per cent since November.
Upside: Two peers have gone or are going public. Cinemark, the third-largest U.S. chain, did an IPO on Tuesday and is trading slightly above its initial price. AMC, the second-largest chain, will follow in May. Blackmont Capital analyst Barbara Gray's target is $19.50 on Cineplex. Shirley Won
HOLDRS SEMICONDUCTOR E.T.F.: (SMH-AMEX)
Yesterday's close $37.50 U.S., up 56¢
The highly cyclical semiconductor industry is showing strong momentum with the Philadelphia Semiconductor Index hitting a 52-week high yesterday and the Semiconductor Holders Trust flirting close to its own year's best.
Upside: The sector is in the early stage of a rally and "long-term momentum is poised to turn up," says Ray Hanson, a technical analyst with RBC Dominion Securities Inc. Simon Avery
LIVINGSTON INTERNATIONAL INCOME FUND: (LIV.UN-TSX)
Yesterday's close $23.75, down 25¢
Livingston Int'l Income Fund has been on a tear on what appears to be takeover speculation. A couple weeks ago Blackmont Capital said the trust, which holds securities of a customs brokerage and trade-related services provider, would be an attractive takeover candidate for Canadian National Railway Co. at $23 to $31.
Caution: If a takeover fails to appear, Blackmont's target is $20.40. Angela Barnes
TRANSALTA CORP.: (TA-TSX)
Yesterday's close $26.95, down 98¢
TransAlta Corp. has been flying the past few days on leveraged buyout rumours, although it pulled back yesterday.
Downside: The stock has run too high for a buyout, said Scotia Capital analyst Sam Kanes, who downgraded the stock to "sector underperform." "The odds of a blue-chip pension fund financial buyer buying TransAlta are above zero but there is not much left if our math is right." Scott Adams CANADIAN OIL SANDS TRUST: (COS.UN-TSX)
Yesterday's close $30.18, up 18¢
Canadian Oil Sands Trust is back in investors' good books after bottoming below $26 in March.
Upside: The trust reported first-quarter results last night and said it is increasing its dividend by 33 per cent to 40 cents per quarter. The dividend has quadrupled in less than two years. Scott Adams
Scott Adams