Nine TSX stocks with strongly positive analyst sentiment

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We are looking for Canadian-listed stocks with high analyst sentiment in a rising interest rate environment.

. In theory, equity markets should have seen a large decline, given there were several rate hikes in a short period of time. However, Canada’s main index, the S&P/TSX Composite, has seen only a slight decline on a total return basis, dropping 3.9 per cent since the first rate increase on March 2. The central bank has also hinted the rate increases may be nearing the end. With uncertainty in markets, it’s been difficult to consider where to invest in equities.

Today we use StarMine’s Analyst Revisions Model to analyze analyst sentiment over the past 60 days, which encompass the two most recent rate increases. The model’s inputs include analyst revisions to estimates and recommendations, putting more weight on analysts that have been historically more accurate and timely with projections.Next, we screen for companies with an Analyst Revisions Model score of 80 or higher.

Lastly, we screen for companies that have had positive increases to their ARM score over the past 60 days.Refinitiv, a London Stock Exchange Group business, is one of the world’s largest providers of financial market data and infrastructure, serving more than 40,000 institutions worldwide.

 

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