RBC Capital Markets analyst Bish Koziol made six changes to his quantitatively driven top 40 list of Canadian stocks.
ATS Corp., Teck Resources Ltd. and CGI Inc. are out, CCL Industries Inc., Suncor Energy Inc. and AGF Management Ltd. are in, “Our Canada Overall Top 40 portfolio fell 1.6 per cent last month, though it outperformed the S&P /TSX Composite‘s 1.8-per-cent loss . Year-to -date the Portfolio advanced 6.2 per cent compared to the benchmark ‘s 4.7-per-cent rise. The performance last month was attributable to headwinds from Information Technology and Communication Services”
The list now is Imperial Oil Ltd, Pason Systems Inc., Canadian Natural Resources Ltd., Ovintiv Inc., Enerplus Corp., Trican Well Service Ltd., Suncor Energy Inc., Cenovus Energy Inc., Stella-Jones Inc., CCL Industries Inc., Labrador Iron Ore Royalty Corp., Toromont Industries Ltd., Thomson Reuters Corp., TFI International Inc., Richelieu Hardware Ltd., Finning International Inc., Ritchie Bros. Auctioneers Inc., Exchange Income Corp., Metro Inc., Loblaw Companies Ltd., North West Co. Inc.
“Value was the star on a global basis, with Growth also performing well in April. The worst of the sell-off was concentrated in formerly high Momentum countries/sectors. Overall, the cyclical over defensive bias rises further. Energy continues to surge in rankings, with strength also evident in Industrials, Financials, and Discretionary. Defensives remain hamstrung by their dismal Growth rankings relative to other sectors.