Scotiabank analyst Robert Hope provided his top picks in the utilities and energy infrastructure sector,
“Overall, our estimates are below consensus as we see weather, generation, and higher corporate costs weighing on results. We have made some minor tweaks to our models heading into the quarter, but nothing too notable. We are particularly below consensus for: 1) CPX due to soft power pricing and lower utilization, 2) EMA due to weather and regulatory lag, and 3) AQN due to weak renewable generation and higher costs.
CIBC economist Avery Shenfeld tackles the argument that the Canadian economy is over-invested in housing, “The idea being bandied about is the attraction of real estate investments has put a squeeze on the available pool of savings that might otherwise have flowed to productivity-enhancing machinery and equipment investment. But Canada is not a closed economy with a fixed pool of domestic investable savings.
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