Forbes shines spotlight on Canada’s undervalued stocks

(August 3 – 15:50 ET) – Forbes has discovered Canada and its undervalued financials. The August 7 edition of the magazine touts Canada as a hot economy rich with undervalued stocks. It names eight stocks in particular as good values, including four financials: Royal Bank of Canada, Clarica Life Insurance, Sun Life Financial, and Fairfax Financial Holdings. The other names are Air Canada, Brookfield Properties, Quebecor, and Sears Canada.

Forbes tells Canada’s story as one of a burgeoning service sector, overtaking the traditional commodity businesses. “It’s a common but inaccurate perception that Canada is a commodity economy,” Joshua Mendelsohn, chief economist of the Canadian Imperial Bank of Commerce in Toronto is quoted. “Our three fastest-growing industries are communications, business services and wholesale trade.”