All posts by Brian Donovan

Brian is a Chartered Business Valuator (CBV) and President of Patchell Brook Equity Analytics Inc. whose flagship product is Stockcalc.com. Stockcalc is a collaborative website for retail investors focused on fundamental valuation.
Downgraded Stocks

Microsoft (MSFT:NAS) and Norfolk Southern (NSC:NYS) Downgraded

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/toppicks.aspx.

Downgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been downgraded by at least one analyst in the last few days.

Why Do Companies Get Downgraded?

Companies can get downgraded for a number of reasons but primarily due to reduced future earnings potential due to loss of contracts, faultering product lines, increasing costs relative to revenue or financial risk.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
NSC Norfolk Southern Corp 4 0 3 0 1 0 3.7500 3.8889 Outperform
NOW ServiceNow Inc 6 0 2 0 0 0 4.5000 4.6000 Outperform
PSA Public Storage 1 0 1 0 0 0 4.0000 4.5000 Outperform
SQ Square Inc 4 0 1 1 0 0 4.1667 4.2857 Outperform
LUV Southwest Airlines Co 2 0 2 0 0 0 4.0000 4.2000 Outperform
RCL Royal Caribbean Cruises Ltd 3 0 1 0 0 0 4.5000 4.6000 Outperform
CCEP Coca-Cola European Partners PLC 1 0 3 0 0 0 3.5000 3.8000 Hold
O Realty Income Corp 1 0 1 1 0 0 3.3333 3.6667 Hold
WAT Waters Corp 0 0 1 1 0 0 2.5000 2.6667 Underperform
MGA Magna International Inc 2 3 4 0 0 0 3.7778 4.0000 Outperform
ALB Albemarle Corp 5 1 1 0 0 0 4.5714 4.7143 Buy
LN LINE Corp 0 0 1 0 0 0 3.0000 3.5000 Hold
TYL Tyler Technologies Inc 1 0 1 0 0 0 4.0000 5.0000 Outperform
KL Kirkland Lake Gold Ltd 4 1 7 0 0 0 3.7500 4.1818 Outperform
KNX Knight-Swift Transportation Holdings Inc 1 0 4 0 0 0 3.4000 3.6667 Hold
WH Wyndham Hotels & Resorts Inc 2 1 0 0 0 0 4.6667 5.0000 Buy
SERV ServiceMaster Global Holdings Inc 1 0 1 0 0 0 4.0000 4.3333 Outperform
VIPS Vipshop Holdings Ltd 1 0 1 0 1 0 3.0000 3.6667 Hold
BKU BankUnited Inc 1 0 1 0 0 0 4.0000 4.3333 Outperform
BOX Box Inc 4 0 1 0 0 0 4.6000 5.0000 Buy
AGI Alamos Gold Inc 6 3 5 0 0 0 4.0714 4.1429 Outperform
MTH Meritage Homes Corp 0 0 1 0 0 0 3.0000 4.0000 Hold
NE Noble Corp PLC 2 0 5 0 1 0 3.2500 3.5000 Hold
PDS Precision Drilling Corp 8 3 1 2 1 0 4.0000 4.0667 Outperform
ELVT Elevate Credit Inc 1 0 1 0 0 0 4.0000 5.0000 Outperform
Toronto Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
L Loblaw Companies Ltd 3 2 3 2 0 0 3.6000 3.9000 Outperform
MG Magna International Inc 2 3 4 0 0 0 3.7778 4.0000 Outperform
TECK.B Teck Resources Ltd 8 3 2 0 0 0 4.4615 4.5000 Outperform
TECK.A Teck Resources Ltd 8 3 2 0 0 0 4.4615 4.5000 Outperform
H Hydro One Ltd 0 1 7 0 4 0 2.4167 2.5000 Underperform
KL Kirkland Lake Gold Ltd 4 1 7 0 0 0 3.7500 4.1818 Outperform
FTT Finning International Inc 3 3 2 0 0 0 4.1250 4.6250 Outperform
AGI Alamos Gold Inc 6 3 5 0 0 0 4.0714 4.1429 Outperform
ATZ Aritzia Inc 3 2 0 0 0 0 4.6000 4.6667 Buy
LUG Lundin Gold Inc 0 4 1 0 0 0 3.8000 4.1429 Outperform
SUM Solium Capital Inc 0 0 2 0 6 0 1.5000 2.0000 Sell
SMU.UN Summit Industrial Income REIT 3 1 4 0 0 0 3.8750 4.1250 Outperform
PD Precision Drilling Corp 8 3 1 2 1 0 4.0000 4.0667 Outperform
AIF Altus Group Ltd 4 4 0 0 1 0 4.1111 4.3333 Outperform
VNR Valener Inc 0 0 6 0 0 0 3.0000 3.1667 Hold
WDO Wesdome Gold Mines Ltd 5 3 3 0 0 0 4.1818 4.3636 Outperform
TCW Trican Well Service Ltd 4 2 6 0 0 0 3.8333 3.9167 Outperform
TSX Venture Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
AGI.WT Alamos Gold Inc 6 3 5 0 0 0 4.0714 4.1429 Outperform
PEO People Corp 5 2 0 0 0 0 4.7143 4.8333 Buy
BSR Bluestone Resources Inc 2 2 0 0 0 0 4.5000 4.6000 Outperform
XX Avante Logixx Inc 2 0 1 0 0 0 4.3333 4.6667 Outperform
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
MSFT Microsoft Corp 7 1 0 0 0 0 4.8750 4.8889 Buy
INTU Intuit Inc 4 0 3 0 1 0 3.7500 3.8750 Outperform
KHC The Kraft Heinz Co 2 1 1 0 2 0 3.1667 3.5000 Hold
SBAC SBA Communications Corp 2 0 0 0 1 0 3.6667 4.0000 Outperform
IQ iQIYI Inc 1 0 0 0 2 0 2.3333 3.0000 Underperform
AAL American Airlines Group Inc 1 0 3 0 0 0 3.5000 3.8000 Hold
PFG Principal Financial Group Inc 0 0 2 0 1 0 2.3333 2.5000 Underperform
DBX Dropbox Inc 3 0 0 0 1 0 4.0000 4.2500 Outperform
FSLR First Solar Inc 3 0 3 0 0 0 4.0000 4.1667 Outperform
GGAL Grupo Financiero Galicia SA 0 0 1 0 0 0 3.0000 4.0000 Hold
SFM Sprouts Farmers Market Inc 2 0 3 0 1 0 3.3333 3.6667 Hold
STMP Stamps.com Inc 0 0 0 0 1 0 1.0000 5.0000 Sell
ANIK Anika Therapeutics Inc 1 0 1 0 0 0 4.0000 4.5000 Outperform

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

MSFT:NAS Microsoft

http://www.microsoft.com
Microsoft has 131000 employees and is headquartered in United States.
Microsoft Corp is a technology company. It develop, license, and support a wide range of software products and services. Its business is organized into three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing.

NSC:NYS Norfolk Southern

http://www.nscorp.com
Norfolk Southern has 26662 employees and is headquartered in United States.
Norfolk Southern Corp conducts rail transportation business. It transports raw materials, intermediate products, and finished goods in the United States.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Undervalued Stocks

Canadian Imperial Bank (CM:TSE) and Teck Resources (TECK.A:TSE) Are Undervalued

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on TSE

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSE

Today’s data is for companies listed on the Toronto Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
CM Canadian Imperial Bank of Commerce 2019 114.240000 128.2500 CAD 8
CP Canadian Pacific Railway Ltd 2019 273.590000 311.3305 CAD 13
TECK.A Teck Resources Ltd 2019 31.080000 42.1500 CAD 10
TECK.B Teck Resources Ltd 2019 31.210000 42.1500 CAD 10
WN George Weston Ltd 2019 95.130000 117.5000 CAD 4
CTC.A Canadian Tire Corp Ltd 2019 145.420000 176.7778 CAD 9
SNC SNC-Lavalin Group Inc 2019 34.760000 45.7273 CAD 11
TSGI The Stars Group Inc 2019 21.970000 40.3000 CAD 5
WFT West Fraser Timber Co.Ltd 2019 68.940000 80.5000 CAD 6
X TMX Group Ltd 2019 83.520000 97.5000 CAD 6
DOO BRP Inc 2019 39.050000 63.5556 CAD 9
LNR Linamar Corp 2019 52.230000 75.6667 CAD 6
PBH Premium Brands Holdings Corp 2019 75.830000 95.0000 CAD 10
MRC Morguard Corp 2019 184.000000 205.0000 CAD 2
LAS.A Lassonde Industries Inc 2019 176.500000 195.0000 CAD 1
EQB Equitable Group Inc 2019 69.660000 81.2857 CAD 7
CJT.A Cargojet Inc 2019 85.000000 96.8750 CAD 8
CJT Cargojet Inc 2019 83.470000 96.8750 CAD 8
CGO Cogeco Inc 2019 66.970000 92.5000 CAD 2
AFN Ag Growth International Inc 2019 57.800000 70.5556 CAD 9
EIF Exchange Income Corp 2019 32.800000 43.4545 CAD 11
GSY goeasy Ltd 2019 45.150000 60.8333 CAD 6
MAXR Maxar Technologies Inc 2019 9.220000 20.6655 CAD 9
IDG Indigo Books & Music Inc 2020 10.200000 21.0000 CAD 2
TRIL Trillium Therapeutics Inc 2019 0.970000 19.8241 CAD 1

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

CM:TSE Canadian Imperial Bank

http://www.cibc.com
Canadian Imperial Bank has 44220 employees and is headquartered in Canada.
Canadian Imperial Bank of Commerce is a Canadian-based financial institution. The company serves its clients through retail and business banking, wealth management and wholesale banking.

TECK.A:TSE Teck Resources

http://www.teck.com
Teck Resources has 9600 employees and is headquartered in Canada.
Teck Resources Ltd is a mining company whose activities include exploration, development, processing, smelting, refining and reclamation. It has operations in Canada, United States, Chile and Peru. The company’s products are coal, copper, zinc and lead.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Overvalued Stocks

CWC Energy Services (CWC:TSX) and Pine Cliff Energy (PNE.R:TSX) Are Fully Valued

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Fully Valued Stocks on TSX

Today we are looking at companies that are considered fully valued based on the Analyst data in the StockCalc database.

In this table we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSX

Today’s data is for companies listed on the TSX Venture Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
CWC CWC Energy Services Corp 2019 0.170000 0.1500 CAD 1
PNE.R Pine Cliff Energy Ltd 2019 0.920000 0.3682 CAD 11

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

CWC:TSX CWC Energy Services

http://www.cwcenergyservices.com
CWC Energy Services has 768 employees and is headquartered in Canada.
CWC Energy Services Corp provides drilling and production services to oil and gas exploration and development companies throughout the Western Canadian Sedimentary Basin.

PNE.R:TSX Pine Cliff Energy

http://www.pinecliffenergy.com
Pine Cliff Energy has 91 employees and is headquartered in Canada.
Pine Cliff Energy Ltd is a natural gas-focused, exploration and production company. It is mainly engaged in the exploration, development, and production of natural gas, crude oil, and natural gas liquids.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Stocks Trading at Less than Cash Value

La Jolla Pharmaceutical (LJPC:NAS) and Melinta Therapeutics (MLNT:NAS) Trading at Less than Cash Value

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Trading at Less than Cash Value

Today we are looking at companies trading at less than cash value meaning companies whose current share price is less than the cash per share on the balance sheet. We also show the value of cash net debt per share to show how much cash per share would be left if the debt was paid off.

What this Means…

Companies can have more cash per share than the actual share price for a number of reasons including they just raised capital, are in industries that experience high burn rates and will eat through the cash quickly or if there is a lot of uncertainty about the future of the company. Companies earning a positive net income will have a P/E greater than 0 and are worth exploring in more detail.

Today’s Data on NASDAQ

Today’s data is for companies listed on the NASDAQ.

Symbol Name Close Price Shares Outstanding P/E P/B Cash per Share Net Cash per Share
SOHU Sohu.com Ltd 20.760000 38916788 None 1.2161 29.71 23.98
LJPC La Jolla Pharmaceutical Co 6.120000 26233631 None 2.3489 7.79 0.16
MGI MoneyGram International Inc 2.640000 55687731 None None 3.75 -12.46
IDRA Idera Pharmaceuticals Inc 2.850000 27181436 None 1.0347 3.03 3.95
CDTX Cidara Therapeutics Inc 2.750000 27751431 None 1.0913 3.02 2.66
ETTX Entasis Therapeutics Holdings Inc 5.790000 13099735 None 0.8383 7.18 None
MLNT Melinta Therapeutics Inc 6.540000 11213233 0.0011 0.3124 7.47 -2.25
AQXP Aquinox Pharmaceuticals Inc 2.555000 23537368 None 0.7838 3.68 3.68
ARAV Aravive Inc 5.350000 11182025 5.1942 0.9389 5.60 5.41
SCPH scPharmaceuticals Inc 3.220000 18569289 None 0.7170 5.13 4.61
VVUS VIVUS Inc 4.980000 10629923 None None 5.46 -22.78
ASNS Arsanis Inc 2.660000 14572246 None 1.3895 2.80 2.06
APWC Asia Pacific Wire & Cable Corp Ltd 2.370000 13819669 5.1522 0.2159 3.52 1.27
GIGM GigaMedia Ltd 2.850000 11052235 None 0.5393 5.42 5.77
GEVO Gevo Inc 2.540000 8640433 None 0.2354 4.43 2.95
ONTX Onconova Therapeutics Inc 3.690000 5674220 None 1.9280 3.94 None
BIQI Renmin Tianli Group Inc 2.350000 8033745 19.5000 0.2160 7.64 7.39
SAEX SAExploration Holdings Inc 4.250000 3159955 None 0.4111 6.44 -23.41
RLM Realm Therapeutics PLC 2.776800 4662476 None 0.5332 3.48 2.74
TROV TrovaGene Inc 3.000000 4015206 None 0.8617 3.75 1.37
MDGS Medigus Ltd 2.880000 3796602 None 1.2354 3.14 None
DFFN Diffusion Pharmaceuticals Inc 3.070000 3376245 None 0.4958 3.26 4.64
KBSF KBS Fashion Group Ltd 3.980000 2228497 None 0.1292 9.07 8.58
SFET Safe-T Group Ltd 2.260000 2283111 None 1.5189 2.68 2.21
CHFS CHF Solutions Inc 8.900000 513445 None 0.7698 10.67 2.58

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

LJPC:NAS La Jolla Pharmaceutical

http://www.ljpc.com
La Jolla Pharmaceutical has 309 employees and is headquartered in United States.
La Jolla Pharmaceutical Co is an American biopharmaceutical company. It is focused on the discovery, development and commercialization of therapies intended to improve outcomes in patients suffering from life-threatening diseases.

MLNT:NAS Melinta Therapeutics

http://www.melinta.com
Melinta Therapeutics has 300 employees and is headquartered in United States.
Melinta Therapeutics Inc is a commercial-stage biopharmaceutical company. It is developing antibiotic, Baxdela (delafloxacin), for the treatment of adults with serious skin infections known as acute bacterial skin and skin structure infections.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Stocks Trading at Less than Cash Value

Five Point Holdings (FPH:NYS) and HC2 Holdings (HCHC:NYS) Trading at Less than Cash Value

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Trading at Less than Cash Value

Today we are looking at companies trading at less than cash value meaning companies whose current share price is less than the cash per share on the balance sheet. We also show the value of cash net debt per share to show how much cash per share would be left if the debt was paid off.

What this Means…

Companies can have more cash per share than the actual share price for a number of reasons including they just raised capital, are in industries that experience high burn rates and will eat through the cash quickly or if there is a lot of uncertainty about the future of the company. Companies earning a positive net income will have a P/E greater than 0 and are worth exploring in more detail.

Today’s Data on NYSE

Today’s data is for companies listed on the New York Stock Exchange.

Symbol Name Close Price Shares Outstanding P/E P/B Cash per Share Net Cash per Share
FPH Five Point Holdings LLC 8.150000 66527880 27.1667 0.9075 8.94 0.57
XIN Xinyuan Real Estate Co Ltd 4.990000 64423309 2.1696 0.4753 15.54 -48.07
HCHC HC2 Holdings Inc 3.420000 44774936 1.0789 0.8297 18.57 2.89
KODK Eastman Kodak Co 3.010000 42726652 1.2088 7.1448 5.57 -3.81
HOV Hovnanian Enterprises Inc 0.655300 148479569 21.8433 None 1.27 -9.31
SDLP Seadrill Partners LLC 1.020000 91821600 0.5410 0.0671 9.60 -24.02
HOS Hornbeck Offshore Services Inc 1.767300 37595348 None 0.0500 2.87 -25.96
GSL Global Ship Lease Inc 0.800100 79060690 None 0.2396 1.20 -3.86
BRS Bristow Group Inc 1.410000 35798185 None 0.0521 8.60 -31.90
CLD Cloud Peak Energy Inc 0.579400 75778186 None 0.0445 1.44 -3.88
KEG Key Energy Services Inc 1.970000 20297359 None 0.5943 2.13 -9.89
MN Manning & Napier Inc 2.050000 15333041 9.7619 0.1970 5.00 5.30
NM Navios Maritime Holdings Inc 1.840000 12470628 None 0.0508 10.66 -117.59
CGA China Green Agriculture Inc 0.542100 39546945 None 0.0553 2.97 2.68
PACD Pacific Drilling SA 15.540000 7500 None 0.0001 26594.53 -514079.87

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

FPH:NYS Five Point Holdings

http://www.fivepoint.com
Five Point Holdings has 200 employees and is headquartered in United States.
Five Point Holdings LLC is an owner and developer of mixed-use, master-planned communities in coastal California. The house sales generates maximum revenue for the company.

HCHC:NYS HC2 Holdings

http://www.hc2.com
HC2 Holdings has 3358 employees and is headquartered in United States.
HC2 Holdings Inc is a diversified holding company which engages in construction, marine services, insurance, telecommunications, energy, life sciences, and other businesses.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Upgraded Stocks

Berkshire Hathaway (BRK.B:NYS) and Costco Wholesale (COST:NAS) Upgraded

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/toppicks.aspx.

Upgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been upgraded by at least one analyst in the last few days.

Why Do Companies Get Upgraded?

Companies can get upgraded for a number of reasons, but primarily due to improved future earnings potential due to new contracts, new products, cost savings or restructuring.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
BRK.B Berkshire Hathaway Inc 0 1 0 0 0 0 4.0000 3.0000 Outperform
BRK.A Berkshire Hathaway Inc 0 1 0 0 0 0 4.0000 3.0000 Outperform
VALE Vale SA 2 0 2 1 1 0 3.1667 3.1429 Hold
MFG Mizuho Financial Group Inc 0 1 1 0 0 0 3.5000 3.0000 Hold
LH Laboratory Corp of America Holdings 2 1 2 0 0 0 4.0000 3.8333 Outperform
INGR Ingredion Inc 1 1 1 0 0 0 4.0000 3.5000 Outperform
NYCB New York Community Bancorp Inc 1 0 2 0 0 0 3.6667 3.5000 Outperform
FHN First Horizon National Corp 1 0 2 0 0 0 3.6667 3.5000 Outperform
TCF TCF Financial Corp 1 0 2 0 0 0 3.6667 3.5000 Outperform
SAM Boston Beer Co Inc 0 0 1 1 1 0 2.0000 1.6667 Underperform
CLGX CoreLogic Inc 1 0 1 0 0 0 4.0000 3.6667 Outperform
SXT Sensient Technologies Corp 1 1 0 0 0 0 4.5000 4.0000 Outperform
APHA Aphria Inc 4 2 0 0 0 0 4.6667 4.6000 Buy
CRS Carpenter Technology Corp 2 1 0 0 0 0 4.6667 4.2500 Buy
OR Osisko Gold Royalties Ltd 6 7 1 0 0 0 4.3571 4.2143 Outperform
OMI Owens & Minor Inc 0 1 0 0 1 0 2.5000 2.0000 Underperform
BPI Bridgepoint Education Inc 1 0 0 0 0 0 5.0000 4.0000 Buy
Toronto Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
APHA Aphria Inc 4 2 0 0 0 0 4.6667 4.6000 Buy
OR Osisko Gold Royalties Ltd 6 7 1 0 0 0 4.3571 4.2143 Outperform
HEXO HEXO Corp 5 4 0 0 0 0 4.5556 4.5000 Buy
LUG Lundin Gold Inc 2 4 1 0 0 0 4.1429 4.0000 Outperform
American Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
HEXO HEXO Corp 5 4 0 0 0 0 4.5556 4.5000 Buy
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
COST Costco Wholesale Corp 5 0 2 0 0 0 4.4286 4.2500 Outperform
ATVI Activision Blizzard Inc 6 1 2 0 0 0 4.4444 4.3750 Outperform
EA Electronic Arts Inc 7 1 0 0 0 0 4.8750 4.8571 Buy
AMD Advanced Micro Devices Inc 4 0 4 0 1 0 3.6667 3.6000 Outperform
CHKP Check Point Software Technologies Ltd 3 2 4 0 0 0 3.8889 3.8000 Outperform
EXPE Expedia Group Inc 7 1 2 0 0 0 4.5000 4.4444 Outperform
EXPD Expeditors International of Washington Inc 0 0 2 1 2 0 2.0000 1.7500 Underperform
TTWO Take-Two Interactive Software Inc 5 1 1 0 0 0 4.5714 4.5000 Buy
TRIP TripAdvisor Inc 1 0 5 0 1 0 3.0000 2.7143 Hold
PBCT People’s United Financial Inc 1 0 1 0 0 0 4.0000 3.6667 Outperform
LILAK Liberty Latin America Ltd 1 0 0 0 0 0 5.0000 4.4000 Buy
LILA Liberty Latin America Ltd 1 0 0 0 0 0 5.0000 4.4000 Buy
TCBI Texas Capital Bancshares Inc 2 0 3 0 0 0 3.8000 3.6667 Outperform
GRPN Groupon Inc 3 0 3 0 0 0 4.0000 3.8000 Outperform
FARO Faro Technologies Inc 1 0 0 0 0 0 5.0000 3.0000 Buy
VRCA Verrica Pharmaceuticals Inc 1 0 0 0 0 0 5.0000 0.0000 Buy
LRAD LRAD Corp 1 0 0 0 0 0 5.0000 0.0000 Buy
PDEX Pro-Dex Inc 1 0 0 0 0 0 5.0000 0.0000 Buy
AMTX Aemetis Inc 1 0 0 0 0 0 5.0000 0.0000 Buy

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

BRK.B:NYS Berkshire Hathaway

http://www.berkshirehathaway.com
Berkshire Hathaway has 377000 employees and is headquartered in United States.
Berkshire Hathaway Inc is engaged in the financial services domain. Its core activity includes provision of insurance services.

COST:NAS Costco Wholesale

http://www.costco.com
Costco Wholesale has 245000 employees and is headquartered in United States.
Costco Wholesale Corp and its subsidiaries operate membership warehouses. The company offers its members low prices on a limited selection of nationally branded and select private-label products in merchandise categories.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Downgraded Stocks

Thermo Fisher Scientific (TMO:NYS) and Mitsubishi UFJ Financial (MUFG:NYS) Downgraded

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/toppicks.aspx.

Downgraded Stocks on NYSE, NASDAQ, AMEX, TSE, and TSX

Today we are looking at companies whose share price has been downgraded by at least one analyst in the last few days.

Why Do Companies Get Downgraded?

Companies can get downgraded for a number of reasons but primarily due to reduced future earnings potential due to loss of contracts, faultering product lines, increasing costs relative to revenue or financial risk.

In the list below you can see the number of analysts we have in the StockCalc database along with the number of buy-hold-sell on the company.

Today’s Data on NYSE, NASDAQ, AMEX, TSE, and TSX

Below we have today’s data for companies listed on all of the New York Stock Exchange, NASDAQ Stock Exchange, American Stock Exchange, Toronto Stock Exchange, and TSX Venture Exchange.

New York Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
TMO Thermo Fisher Scientific Inc 2 0 0 1 0 0 4.0000 4.2500 Outperform
MUFG Mitsubishi UFJ Financial Group Inc 1 1 0 0 0 0 4.5000 4.6667 Outperform
WBK Westpac Banking Corp 1 2 3 0 0 0 3.6667 3.8571 Outperform
SO Southern Co 1 0 4 0 1 0 3.0000 3.1667 Hold
SMFG Sumitomo Mitsui Financial Group Inc 1 1 0 0 0 0 4.5000 4.6667 Outperform
RELX RELX PLC 3 0 1 1 0 0 4.0000 4.2000 Outperform
CHU China Unicom (Hong Kong) Ltd 1 1 1 0 1 0 3.2500 3.6000 Hold
IBN ICICI Bank Ltd 1 0 1 0 0 0 4.0000 4.3333 Outperform
FTV Fortive Corp 2 0 2 0 0 0 4.0000 4.3333 Outperform
GOLD Barrick Gold Corp 2 0 16 0 0 0 3.2222 3.3158 Hold
FE FirstEnergy Corp 2 0 3 0 0 0 3.8000 4.0000 Outperform
BXP Boston Properties Inc 4 0 2 0 0 0 4.3333 4.5000 Outperform
CGC Canopy Growth Corp 3 2 3 0 0 0 4.0000 4.1429 Outperform
IFF International Flavors & Fragrances Inc 2 0 3 0 0 0 3.8000 4.0000 Outperform
DVN Devon Energy Corp 6 0 2 0 0 0 4.5000 4.6250 Outperform
KRC Kilroy Realty Corp 1 0 3 0 0 0 3.5000 3.6000 Hold
GIL Gildan Activewear Inc 2 1 10 2 0 0 3.2000 3.3333 Hold
ACB Aurora Cannabis Inc 2 2 2 0 0 0 4.0000 4.2000 Outperform
TGE Tallgrass Energy LP 0 1 2 0 0 0 3.3333 4.0000 Hold
KT KT Corp 0 1 1 0 0 0 3.5000 4.0000 Hold
WPX WPX Energy Inc 4 0 0 1 0 0 4.4000 4.6000 Outperform
RIG Transocean Ltd 3 0 2 1 1 0 3.4286 3.5714 Hold
ASB Associated Banc-Corp 0 0 2 0 0 0 3.0000 3.6667 Hold
BDC Belden Inc 2 0 1 0 0 0 4.3333 5.0000 Outperform
ATKR Atkore International Group Inc 1 0 2 0 0 0 3.6667 4.0000 Outperform
Toronto Stock Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
ABX Barrick Gold Corp 2 0 16 0 0 0 3.2222 3.3158 Hold
WEED Canopy Growth Corp 3 2 3 0 0 0 4.0000 4.1429 Outperform
G Goldcorp Inc 3 1 6 0 4 0 2.9286 2.9333 Hold
GIL Gildan Activewear Inc 2 1 10 2 0 0 3.2000 3.3333 Hold
ACB Aurora Cannabis Inc 2 2 2 0 0 0 4.0000 4.2000 Outperform
HBM Hudbay Minerals Inc 3 5 7 0 0 0 3.7333 3.8000 Outperform
PD Precision Drilling Corp 8 3 2 1 1 0 4.0667 4.1333 Outperform
UNS Uni-Select Inc 0 1 5 0 0 0 3.1667 3.3333 Hold
KWH.UN Crius Energy Trust 0 1 2 0 2 0 2.4000 2.6000 Underperform
BYL Baylin Technologies Inc 1 3 0 0 0 0 4.2500 4.3333 Outperform
TLG Troilus Gold Corp 3 6 0 0 0 0 4.3333 4.3750 Outperform
TSX Venture Exchange
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
JTR GreenSpace Brands Inc 1 2 1 0 0 0 4.0000 4.5000 Outperform
NASDAQ
Symbol Name Buy Out Perform Hold Under Perform Sell No Opinion Mean Rating Prev Mean Rating Mean Label
GRMN Garmin Ltd 0 0 1 1 1 0 2.0000 3.0000 Underperform
ZION Zions Bancorp NA 4 0 3 0 0 0 4.1429 4.2500 Outperform
OKTA Okta Inc 2 0 1 0 0 0 4.3333 4.5000 Outperform
TLRY Tilray Inc 1 0 2 0 0 0 3.6667 4.0000 Outperform
BCPC Balchem Corp 2 0 2 0 0 0 4.0000 4.3333 Outperform
LMAT LeMaitre Vascular Inc 1 0 3 0 0 0 3.5000 3.6667 Hold
ATTU Attunity Ltd 0 0 1 0 0 0 3.0000 5.0000 Hold

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

TMO:NYS Thermo Fisher Scientific

http://www.thermofisher.com
Thermo Fisher Scientific has 70000 employees and is headquartered in United States.
Thermo Fisher Scientific Inc is a healthcare company. It offers analytical instruments, laboratory equipment, software, services, consumables, reagents and chemicals.

MUFG:NYS Mitsubishi UFJ Financial

http://www.mufg.jp
Mitsubishi UFJ Financial has 111100 employees and is headquartered in Japan.
Mitsubishi UFJ Financial Group Inc is a provider of financial services. It offers commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing and many more fields of financial services.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Undervalued Stocks

Shaw Communications (SJR.A:TSX) and OrganiGram Holdings (OGI:TSX) Are Undervalued

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Undervalued Stocks on TSX

Today we are looking at companies that are considered undervalued based on the Analyst data in the StockCalc database.

In the table below we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSX

Today’s data is for companies listed on the TSX Venture Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
SJR.A Shaw Communications Inc 2019 28.500000 30.6000 CAD 10
OGI OrganiGram Holdings Inc 2019 7.920000 10.2857 CAD 7
ALEF Aleafia Health Inc 2019 2.540000 6.5000 CAD 1
WED Westaim Corp 2019 2.600000 4.6250 CAD 2
KBLT Cobalt 27 Capital Corp 2019 3.660000 10.5150 CAD 10
SYZ Sylogist Ltd 2019 12.850000 16.0000 CAD 2
BLN Blackline Safety Corp 2019 5.010000 7.8333 CAD 3
WMD WeedMD Inc 2019 1.880000 3.7500 CAD 2
FIL Filo Mining Corp 2019 2.200000 4.5800 CAD 5
SGMA Sigma Lithium Resources Corp 2019 2.000000 4.5000 CAD 2
RX Biosyent Inc 2019 8.120000 10.4167 CAD 3
GENE Invictus MD Strategies Corp 2019 1.020000 3.0000 CAD 1
HUT Hut 8 Mining Corp 2019 1.260000 5.0000 CAD 1
ACST Acasti Pharma Inc 2020 1.230000 5.6000 CAD 2
MPH Medicure Inc 2019 6.300000 10.0500 CAD 2
CKG Chesapeake Gold Corp 2019 2.070000 4.0000 CAD 1
BTR BonTerra Resources Inc 2020 1.940000 4.1000 CAD 1
PTQ Protech Home Medical Corp 2019 0.870000 3.0000 CAD 1
GTT GT Gold Corp 2019 0.680000 2.7000 CAD 1
NLC Neo Lithium Corp 2019 0.570000 2.7000 CAD 4
MDP Medexus Pharmaceuticals Inc 2020 4.430000 10.5000 CAD 1
PLU Plateau Energy Metals Inc 2019 0.650000 3.0000 CAD 1
EPI ESSA Pharma Inc 2019 4.750000 19.1662 CAD 1
CUDA Cuda Oil And Gas Inc 2019 1.220000 4.0000 CAD 1
RP RepliCel Life Sciences Inc 2019 0.320000 2.1500 CAD 1

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

SJR.A:TSX Shaw Communications

http://www.shaw.ca
Shaw Communications has 14000 employees and is headquartered in Canada.
Shaw Communications Inc is a communications and media company that offers consumers with broadband cable television, high-speed internet, home phone, telecommunications services, satellite direct-to-home services and engaging programming.

OGI:TSX OrganiGram Holdings

http://www.organigram.ca
OrganiGram Holdings has 133 employees and is headquartered in Canada.
OrganiGram Holdings Inc is engaged in producing medical marijuana. It is also focused on offering a multi-disciplinary approach to post-traumatic stress disorder treatment, chronic pain, trauma therapy, and medical cannabis as an alternative medicine.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Overvalued Stocks

Kirkland Lake Gold (KL:TSE) and Canadian Tire Corp (CTC:TSE) Are Fully Valued

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Fully Valued Stocks on TSE

Today we are looking at companies that are considered fully valued based on the Analyst data in the StockCalc database.

In this table we can see the close price and target price for these companies along with the number of analysts covering the stock. We also have included the fiscal year for the target price as sometimes these analyst targets are not for the current or even the next fiscal year.

There can be a number of reasons why a company would be on this list. What is particularly interesting are companies with a large analyst following that make this list. We need to dig deeper into these companies to understand why the difference in price versus target.

Today’s Data on TSE

Today’s data is for companies listed on the Toronto Stock Exchange.

Symbol Name Target Year Close Price Target Price Mean Currency Target Price # of Estimates
KL Kirkland Lake Gold Ltd 2019 47.720000 45.9750 CAD 10
CTC Canadian Tire Corp Ltd 2019 243.800000 176.7778 CAD 9
AQN Algonquin Power & Utilities Corp 2019 14.520000 14.4648 CAD 10
TIH Toromont Industries Ltd 2019 69.210000 69.0000 CAD 8
CRON Cronos Group Inc 2019 29.640000 20.5000 CAD 4
GRT.UN Granite Real Estate Investment Trust 2019 61.640000 61.2500 CAD 8
LIF Labrador Iron Ore Royalty Corp 2019 32.640000 30.0000 CAD 1
LB Laurentian Bank of Canada 2019 45.750000 44.3333 CAD 9
FN First National Financial Corp 2019 29.410000 28.2000 CAD 5
SUM Solium Capital Inc 2019 19.120000 18.1750 CAD 8
SMU.UN Summit Industrial Income REIT 2019 10.950000 10.4688 CAD 8
VNR Valener Inc 2019 22.890000 22.4167 CAD 6
SII Sprott Inc 2019 2.620000 2.5625 CAD 4
AI Atrium Mortgage Investment Corp 2019 13.320000 13.2500 CAD 2
AW.UN A&W Revenue Royalties Income Fund 2019 38.410000 38.0000 CAD 1
NDM Northern Dynasty Minerals Ltd 2019 1.230000 1.1250 CAD 2
MKP MCAN Mortgage Corp 2019 14.670000 12.0000 CAD 1
ZCL ZCL Composites Inc 2019 9.960000 8.8333 CAD 3
BTB.UN BTB Real Estate Investment Trust 2019 4.640000 4.4167 CAD 3
III Imperial Metals Corp 2019 1.930000 1.7125 CAD 4
TGO TeraGo Inc 2019 10.540000 9.3333 CAD 3
SRV.UN SIR Royalty Income Fund 2019 15.570000 14.7500 CAD 1
PNC.A Postmedia Network Canada Corp 2019 1.230000 0.2000 CAD 1
PNC.B Postmedia Network Canada Corp 2019 1.100000 0.2000 CAD 1
KPT KP Tissue Inc 2019 9.240000 9.0000 CAD 6

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

KL:TSE Kirkland Lake Gold

http://www.klgold.com
Kirkland Lake Gold has 1690 employees and is headquartered in Canada.
Kirkland Lake Gold Ltd is a Canada-based gold producer. The company operates in one segment consisting of a mining and milling operation. The principal product from the mining operations of the company is the sale of gold dore bars.

CTC:TSE Canadian Tire Corp

http://www.canadiantire.ca
Canadian Tire Corp has 31686 employees and is headquartered in Canada.
Canadian Tire Corp Ltd operates a nationwide store network that sells home goods, sporting equipment, apparel, footwear, automotive parts and accessories. Its stores are branded under the name Mark’s, Sport Chek, Atmosphere, and PartSource monikers.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.

Top 25 Stock Gainers Year to Date

Amex Exploration (AMX:TSX) and Voyager Digital (Canada) (VYGR:TSX) Are Biggest Stock Gainers YTD on TSX

Stockcalc – Free Trial

Have a free look inside the StockCalc website at www.stockcalc.com

I have used the analysis tools on the website stockcalc.com to generate some of the content of this blog post. These tools and reports are available for free at www.stockcalc.com/TopPicks.aspx.

Biggest Stock Gainers Year to Date on TSX

Today we are looking at companies that have had the greatest percentage increase in share price year to date.

Top 25 Companies

Lists like these are always interesting to look at as they tell more than one story. Companies that are experiencing dramatic increases in share price can do so for a variety of reasons. These can include, the sector they are in has turned (such as companies in the commodities space or a new sector that has huge future potential), the company is in talks to be taken over, or the company has restructured and earnings are turning better than expected.

In this list we have selected the top 25 companies based on their percentage increase in share price year to date.

Today’s Data on TSX

Today’s data is for companies listed on the TSX Venture Exchange.

Symbol Name Total Return Period
AMX Amex Exploration Inc 519.047619 YTD
VYGR Voyager Digital (Canada) Ltd 506.666667 YTD
WL Westleaf Inc 488.736234 YTD
AAAA Auralite Investments Inc 388.000000 YTD
WRY Western Troy Capital Resources Inc 300.000000 YTD
WRR Walker River Resources Corp 241.666667 YTD
TIN.H Eurotin Inc 233.333333 YTD
AIIM Albert Mining Inc 216.666667 YTD
HOCL Highwood Oil Co Ltd 205.106691 YTD
ANE Altan Nevada Minerals Ltd 200.000000 YTD
BHR Blackheath Resources Inc 200.000000 YTD
DW.H DataWind Inc 200.000000 YTD
XND Xander Resources Inc 200.000000 YTD
GXS Goldsource Mines Inc 200.000000 YTD
VIPR Silver Viper Minerals Corp 187.500000 YTD
PCLO PharmaCielo Ltd 176.780508 YTD
PMO.H Prime City One Capital Corp 175.000000 YTD
PX Pelangio Exploration Inc 172.000000 YTD
SGN Scorpio Gold Corp 166.666667 YTD
DVG Divergent Energy Services Corp 166.666667 YTD
KHRN Khiron Life Sciences Corp 164.705882 YTD
BP Backstageplay Inc 160.000000 YTD
TETH Tethyan Resources PLC 151.282051 YTD
DNX Dynex Power Inc 150.980392 YTD
ITM.H Intema Solutions Inc 150.000000 YTD

Let’s look at a few companies…

Lets look at a couple of the companies on this list to get a better understanding of them.

AMX:TSX Amex Exploration

http://www.amexexploration.com
Amex Exploration has None employees and is headquartered in Canada.
Amex Exploration Inc is a junior mining exploration company which focuses on developing viable gold and base metals deposits in mining-friendly jurisdictions.

VYGR:TSX Voyager Digital (Canada)

http://www.ucresources.net
Voyager Digital (Canada) has None employees and is headquartered in United States.
UC Resources Ltd is a Canadian based exploration stage company engaged principally in the acquisition, exploration and development of resource properties.

Free Valuation

Run a valuation on any of the companies listed above at www.stockcalc.com/valureport.aspx or subscribe at our Stockcalc Facebook Page to receive this list each day Stockcalc Reports.

The content presented here is in part from the website stockcalc.com and is provided on an as is or as available basis with all faults and may not be current in all cases. You should not rely on any of the information as authoritative or as a substitute for the exercise of your own skill and judgment in making an investment decision.