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TORONTO (Reuters) - Canadian fund managers are revamping their portfolios, picking cyclical stocks that could benefit from a return to a more typical economy in the coming year, as COVID-19 vaccines roll out and central banks provide a historic level of stimulus.
FILE PHOTO: A darkened television studio is seen at the offices of TMX Group, which operates the Toronto Stock Exchange, after the company announced it was shutting down all markets for the rest of the day after experiencing issues with trading on all its exchange platforms in Toronto, Ontario, Canada April 27, 2018. REUTERS/Chris Helgren
In Canada, which began doling out the Pfizer Inc and BioNTech SE vaccine on Dec. 14, cyclical stocks account for about 70% of the country’s main stock market. The S&P/TSX Composite has gained 2.6% this year, lagging the tech-heavy U.S. market.
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Some of the best dividend stocks to buy as 2020 takes a welcome bow are actually some of the most obvious. There’s no need to reinvent the wheel, after all. Investors with narrow financial horizons will nevertheless be looking for rich yields in reliable companies. That’s why the following selection of TSX stocks has been made to certain specifications that meet the requirements of retirees.
Rich yields from predictable stocks
There are quicker ways of making more money than stashing shares in blue-chip dividend stocks. But steep growth can be risky. Buying the latest hot tip can result in a windfall. But it can also leave a big gash in a carefully curated portfolio of stocks. Instead, investors may wish to zero in on wide-moat, passive-income stocks such as
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Brookfield Asset Management Inc found using ticker (BAM) now have 12 analysts in total covering the stock. The consensus rating is ‘Buy’. The target price ranges between 57 and 34 with the average target price sitting at 47.5. Now with the previous closing price of 41.23 this would indicate that there is a potential upside of 15.2%. There is a 50 day moving average of 38.33 and the 200 moving average now moves to 34.84. The company has a market cap of $61,484m. Company Website: http://www.brookfield.com
Brookfield Asset Management is a leading global alternative asset manager and one of the largest investors in real assets. Our investment focus is on real estate, renewable power, infrastructure and private equity assets. Our objective is to generate attractive long-term risk-adjusted returns for the benefit of our clients and shareholders. We manage a range of public and private investment products and services for institutional and retail clients. We ear