Andre-Philippe Hardy, head of Canadian research at TD Securities, outlines TD Cowen's top Canadian stock recommendations for the year ahead. He highlights Brookfield Renewable Partners L.P., Canadian Imperial Bank of Commerce (CIBC), and Celestica Inc. as strong performers in the current economic climate.
Andre-Philippe Hardy, head of Canadian research at TD Securities, explains TD Cowen's best Canadian stock ideas amid more frequent interest rate cuts.
In an interview with BNN Bloomberg on Wednesday, Andre-Philippe Hardy said going into next year, the backdrop for the Canadian consumer is likely to be “more of the same.” He said growth has been propelled by population gains that are expected to decline amid weak business investment and productivity. However, Hardy added that as borrowing costs move lower, consumers will feel less of the burden of high interest rates.
He noted that as cloud computing providers move to build more data centres, which will consume vast amounts of energy, the electricity needs to be sourced from somewhere. “So that’s a name that we really like, impacted by longer themes and less impacted by the consumer near term.”“The reasons we like CIBC have been around…better than average growth in pre-tax, pre-provision earnings, they’ve had declining credit losses as U.S. real estate losses are behind, and they’re very well capitalized and in fact are starting to buy back some shares,” he said.
Brookfield Renewable CIBC Canadian Stocks TD Securities Interest Rates
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Years-long ban on Canadian beef highlights 'uncertainty' of Chinese marketCALGARY — China's ongoing ban on Canadian beef appears to have no end in sight, making it a textbook example of the uncertainty Canadian exporters continue...
Read more »
Years-long ban on Canadian beef highlights 'uncertainty' of Chinese marketCALGARY — Industry experts say China's ongoing ban on Canadian beef is a textbook example of the uncertainty Canadian exporters face in that market.
Read more »
Years-long ban on Canadian beef highlights uncertainty of Chinese marketCattle stand in a pasture on a farm in Alberta. China has been blocking beef shipments from Canadian processing plants for almost three years, ever since an atypical case of bovine spongiform encephalopathy (BSE) was found on an Alberta farm in December 2021.
Read more »
Years-long ban on Canadian beef highlights 'uncertainty' of Chinese marketChina's ongoing ban on Canadian beef appears to have no end in sight, making it a textbook example of the uncertainty Canadian exporters continue to face in that market.
Read more »
Canadian piano phenom Jaeden Izik-Dzurko among the highlights of October concert calendarIzik-Dzurko, a Juilliard-trained pianist, won over the jury with his version of Brahms’s Piano Concerto No. 2
Read more »
Years-long ban on Canadian beef highlights 'uncertainty' of Chinese marketIndustry experts say China’s ongoing ban on Canadian beef is a textbook example of the uncertainty Canadian exporters face in that market.
Read more »