Raymond James Ltd. today released its Canadian equity analysts’ best picks list for 2004.
The list, according to Darren Martin, Director of Raymond James’ Canadian Equity Research team, highlights 14 individual stocks of Canadian companies that Raymond James analysts expect will produce superior results during the upcoming year. The 14 picks are:
- CI Fund Management;
- NorskeCanada Ltd.;
- Canico Resource Corp.;
- Nova Chemicals;
- Cardiome Pharma Corp.;
- Open Text;
- Davis + Henderson Income Fund;
- Petro-Canada;
- Enerflex Systems;
- Royal Group Technologies;
- Intrawest Corporation;
- Talisman Energy;
- Magellan Aerospace; and
- Vincor International.
“In terms of measuring performance, this is a static, one-year list and we will tally the returns at the end of 2004,” says Martin. “Although unforeseen elements can affect any company’s stock performance, our analysts are confident that the fundamentals of these firms are sound and should produce enhanced value for investors during 2004.”
As of December 12, the 2003 U.S. Best Picks list outperformed the S&P 500 by 17.5% last year.
Last year marked the first time that Raymond James Canadian analysts issued a Best Picks list. The nine analyst selected stocks of 2003 posted a return of 11.6% versus 22.6% for the TSX composite total return index for the year to date as of Dec. 12, 2003.
“The thinking behind the Canadian Best Picks is not just to outperform the averages, but also to provide positive returns,” says Martin. “Even though the return was not as high as we would have liked in our first year, this performance primarily reflected the lack of financial services, mining and technology stocks on the list. These were sectors in which we had limited coverage at this time last year. I am confident that as our Canadian Best Picks builds up a track record over the coming years, it will continue to post not only positive returns, but also outperform the market.”
The U.S. Analysts’ Best Picks for 2004 was released on December 15 and includes 11 individual stocks:
- Allstate;
- Nabors Industries;
- Ryanair Holdings;
- Fidelity National Financial;
- Newell Rubbermaid;
- Tech Data;
- IMS Health;
- Panera Bread Company;
- Ultra Petroleum;
- Marvel Enterprises; and
- Pulte Homes
.”There is no assurance that the Best Picks will achieve the results expected and like any investments, investors could incur profits or losses,” he says. “We expect these companies to do well over the course of 2004, but our best advice for investors remains as it’s always been – select high quality companies and invest for the long term,” says Martin.
http://www.newswire.ca/en/releases/archive/December2003/23/c6394.html