Analyst Undervalued Stocks on the TSE November 2023

November 28, 2023

Analyst Undervalued

Companies on this list are considered undervalued based on the analyst consensus. This means that the average analyst target price is greater than the close price.

Toronto Stock Exchange

The Toronto Stock Exchange (TSE) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization.

About the Data

This table includes the close price and analyst target price mean from most recent available data. The fiscal year indicates the year for the analyst target price, as the target may not always be for the current year. The number of estimates indicates the number of analyst targets used to calculate the target price mean.

How do you use this table?

Analysts believe that the companies on this list will see the close price move up to their target price mean by the target year indicated. Companies with a large analyst following or large difference between close price and target price are particularly interesting to investigate further. This becomes a starting point for further analysis to understand why these companies are undervalued. Stocks in this category are generally held for capital appreciation or dividends.

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SymbolNameClose PriceTarget Price MeanTarget YearNumber of EstimatesCurrency
CNR Canadian National Railway Co 152.48 170.97 2024 12 CAD
CP Canadian Pacific Kansas City Ltd 94.85 116.11 2024 13 CAD
L Loblaw Companies Ltd 121.73 143.29 2024 7 CAD
WSP WSP Global Inc 185.34 209.75 2024 12 CAD
FFH.U Fairfax Financial Holdings Ltd 844.97 1600.28 2024 5 CAD
WN George Weston Ltd 165.46 196.17 2024 6 CAD
TFII TFI International Inc 159.20 183.18 2024 9 CAD
WFG West Fraser Timber Co.Ltd 104.78 136.73 2024 6 CAD
CTC.A Canadian Tire Corp Ltd 137.51 162.63 2024 8 CAD
DOO BRP Inc 95.25 145.90 2024 10 CAD
All data provided as at market close November 26, 2023.

Company Details

Canadian National Railway Co

CNR:TSX

Close Price

152.48

Target Price Mean

170.97

Target Year

2024

Target Price # Estimates

12

Canadian National's railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. In 2022, CN generated roughly CAD 17.1 billion in revenue by hauling intermodal containers (29% of consolidated revenue), petroleum and chemicals (19%), grain and fertilizers (16%), forest products (12%), metals and mining (11%), automotive shipments (5%), and coal (5%). Other items constitute the remaining revenue.

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Canadian Pacific Kansas City Ltd

CP:TSX

Close Price

94.85

Target Price Mean

116.11

Target Year

2024

Target Price # Estimates

13

Canadian Pacific Kansas City is a Class-1 railroad operating on track that spans across most of Canada and into parts of the Midwestern and Northeastern United States. Following the April 2023 Kansas City Southern merger, CP operates new single-line-haul services from Canada and the Upper Midwest down through Texas, the Gulf of Mexico, and into Mexico. It also hauls cross border and intra Mexico freight via operating concessions on 3,300 miles of rail in Mexico.

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Loblaw Companies Ltd

L:TSX

Close Price

121.73

Target Price Mean

143.29

Target Year

2024

Target Price # Estimates

7

Loblaw is Canada's largest retailer, operating 2,500 food retail and pharmacy stores across the country. Its main grocery banners include Loblaw, No Frills, and Maxi, and its pharmacy stores are mostly under the Shoppers Drug Mart banner, which it acquired in 2014. In addition to brand-name offerings, Loblaw offers private-label products under the President's Choice and No Name brands.

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WSP Global Inc

WSP:TSX

Close Price

185.34

Target Price Mean

209.75

Target Year

2024

Target Price # Estimates

12

WSP Global Inc provides engineering and design services to clients in the Transportation and Infrastructure, Property and Buildings, Environment, Power and Energy, Resources, and Industry sectors. It also offers strategic advisory services. The firm operates through four reportable segments namely, Canada, Americas ( US and Latin America), EMEIA (Europe, Middle East, India and Africa), and APAC (Asia Pacific, comprising Australia, New Zealand and Asia).

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Fairfax Financial Holdings Ltd

FFH.U:TSX

Close Price

844.97

Target Price Mean

1600.28

Target Year

2024

Target Price # Estimates

5

Fairfax provides reinsurance and property and casualty insurance in Canada, the United States, and other international markets. The company also has some noninsurance operations such as restaurants. Fairfax has been led by Prem Watsa, its chairman and CEO, since its formation in 1985.

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George Weston Ltd

WN:TSX

Close Price

165.46

Target Price Mean

196.17

Target Year

2024

Target Price # Estimates

6

George Weston is a holding company that controls a 53% stake in retailer Loblaw and a 62% stake in Choice Properties, a real estate investment trust. Loblaw boasts the largest retail footprint across Canada with 2,500 food retail and pharmacy stores under banners such as Loblaw, No-Frills, Maxi, and Shoppers Drug Mart.

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TFI International Inc

TFII:TSX

Close Price

159.20

Target Price Mean

183.18

Target Year

2024

Target Price # Estimates

9

TFI International Inc is a transportation and logistics company domiciled in Canada. The company organises itself into four segments: package and courier, less-than-truckload, truckload, and logistics. The package and courier segment picks up, transports, and delivers items across North America. The less-than-truckload segment transports smaller loads. The truckload segment transports goods by flatbed trucks, containers, or a more specialised service.

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West Fraser Timber Co.Ltd

WFG:TSX

Close Price

104.78

Target Price Mean

136.73

Target Year

2024

Target Price # Estimates

6

West Fraser Timber is a softwood lumber company that also produces wood panels and pulp products. The company produces its wood products globally, with lumber mills in British Columbia, Alberta, Europe, and the southeastern United States. Following its acquisition of Norbord in 2021, West Fraser is now one of the largest oriented strand board, or OSB, producers in the world.

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Canadian Tire Corp Ltd

CTC.A:TSX

Close Price

137.51

Target Price Mean

162.63

Target Year

2024

Target Price # Estimates

8

Canadian Tire sells home goods, sporting equipment, apparel, footwear, automotive parts and accessories, and vehicle fuel through a roughly 1,700-store network of company, dealer, and franchisee-operated locations across Canada. Aside from the namesake banner, stores operate primarily under the Mark's, SportChek, Party City, Atmosphere, and PartSource monikers.

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BRP Inc

DOO:TSX

Close Price

95.25

Target Price Mean

145.90

Target Year

2024

Target Price # Estimates

10

BRP designs, develops, manufactures, distributes, and markets snowmobiles, all-terrain vehicles, and personal watercraft under the Ski-Doo, Sea-Doo, Can-Am, and Lynx brand names. It also builds engines under the Rotax brand (after shuttering the Evinrude outboard engine business in 2020) and offers clothing, parts, and accessories that cater to its core consumers.

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Canadian National Railway and Canadian Pacific Kansas are among the most undervalued TSE stocks this month. See the most undervalued companies on the blog: https://www.stockcalc.com/Blog/analyst-undervalued-stocks-tse-november-2023
Canadian National Railway $CNR and Canadian Pacific Kansas $CP on the #TSE among the most undervalued this month. See the full list of undervalued companies: https://www.stockcalc.com/Blog/analyst-undervalued-stocks-tse-november-2023
Canadian National Railway and Canadian Pacific Kansas are among the most undervalued TSE stocks this month. See the most undervalued companies on the blog: https://www.stockcalc.com/Blog/analyst-undervalued-stocks-tse-november-2023

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