Good morning
CannaRoyalty has had to postpone the live stream scheduled for today until later next
week. We’ll keep you posted.
CANADIAN ANALYSTS’ CALLS
INITIATIONS
Vertical Research starts coverage with a "buy" and a price target of $5.70 (Canadian), saying the company could go from cash flow break even to about $2 billion by 2023. Bombardier closed Wednesday at $4.43.
started at "outperform" by AltaCorp with a target of $9.25.
Mackie Research moves the price target to $10 from $7, which gives the stock 46% upside, and maintains a "buy".
RBC lifts the target to $6.50 from $6.40, implying 35% gains, and maintains a "top pick" rating.
is upgraded by BMO Nesbitt Burns to "outperform" with a target of $16 from $14. See more beow.
IA securities raises to "strong buy" on the real estate company's "attractive" 6% dividend yield and discount valuation.
U.S. ANALYSTS’ CALLS
INITIATIONS
J.P. Morgan begins coverage with an "outperform" and a target of $272 (U.S.).
Stifel Nicolaus hikes the target to $2,525 from $2,020. See more on Amazon below.
RBC hikes the target to $182 from $155, giving the stock 15% upside, and maintains "outperform" after the company's analyst day. Credit Suisse moves the target to $175 from $170.
Oppenheimer ups the target to $190 from $180 saying the company's "outside" revenue momentum will likely continue, and that the retailer deserves its premium valuation.
STOCKS THAT MAY MOVE
has won a court ruling in its dispute with the CRA. The case now moves on to the Minister of National Revenue.
had Q4 net income of $700,000 versus $100,000 the same time last year at the same time, while revenue was more than $24 million, up from nearly $15 million last year.
has signed a lease to double the production capacity of its Montreal facility to 155,000 square feet, which the company says will increase its national sales capacity from $300 million to $500 million.
is buying water company CORE Nutrition for $525 million.
is down about 17% in pre-market trading after disappointing sales numbers.
plans to open a general store in New York stocked with its most popular items, and products that are especially popular with New Yorkers.
With files from The Globe and Mail, Reuters and Bloomberg News.
MARKETS
TSX and U.S. equity futures are modestly higher as U.S. Q2 GDP comes in at 4.2%. It’s a reflection of what U.S. Federal Reserve chair Jerome Powell calls a “particularly bright moment” for the U.S. economy.
European indices are mostly lower partly on concern Italy’s coalition government can’t agree on a budget.
In Asia, Japan’s Nikkei dropped nearly 1%, while the Shanghai Composite Index and Hong Kong’s Hang Seng were also down.
Trading may be slower today as investors divert their eyes from their screens to watch the Senate Judiciary Committee hearings of Supreme Court nominee Brett Kavanaugh.
CURRENCIES
The Canadian dollar is down 0.4% to $0.7645 U.S.
Bitcoin is up 0.7% to $6,503.
COMMODITIES WHAT WE’RE READING
West Texas Intermediate is up 1% to $72.34 a barrel (U.S.) partly on expectations of a shortage of crude once U.S. sanctions against Iran kick in.
Gold is of 0.9% at $1,188.90 an ounce.
DAILY UPDATE
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