Disnat - Accueil


August 2014
   
 
Economic Commentary
Desjardins Economic Studies
  Medium-term Forecasts

by

FRANÇOIS DUPUIS
Vice-President and Chief Economist

and

HENDRIX VACHON
Senior Economist

  
Desjardins, Economic Studies

Since the last recession, we have witnessed several economic swings and periods of financial strain. While the worst appears to be behind us, a number of challenges still cloud the horizon and are bound to impact economic growth, prompting central banks to exercise caution. Key interest rates will likely start increasing in 2015 and continue rising very gradually thereafter to eventually peak at a lower level than in previous rising interest rates environments. Finally, gains in the main stock market indexes are expected to slow, rising closer in line with economic growth.

 

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Stocks to Follow
Desjardins Securities Research
 
Analysis by
BILL CABEL
Analyst






Algonquin Power & Utilities Corp.
  • A well-diversified power and utility company with stable, long-term cash flows

  • Clear path to cash flow growth for both the power and utility segments

  • A stable dividend yield, with consistent dividend increases expected over the coming years

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Analysis by
BENOIT POIRIER
CFA, Analyst








SNC-Lavalin Group Inc.
Under construction?SNC on the cusp of renewed growth

SNC-Lavalin is at last emerging from one of the most challenging periods in its history. We believe that management has a renewed sense of purpose to reaffirm and expand SNC's position as a global, top-tier provider of engineering and construction (E&C) services in the infrastructure and resource space.

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List of Stocks to Follow



Stock TSX
Symbol
Recommendation
and Risk
Target
Price ($)
Market
Cap ($m)
Pacific Rubiales Energy Corp. PRE Sell-AAR 17.00 6,553
Parex Resources Inc. PXT Top Pick-AR 17.00 1,779


See complete list



 
Market Analysis
  Market Corrections

by

Charles K. Langford
PhD, Fellow CSI



In Greek mythology, Cassandra was the visionary who, during the Trojan War about 3000 years ago, predicted that the city would one day be burned down by the enemy. None of her predictions were believed but eventually she was right and the city was destroyed. Naturally, Cassandra had the gift of foretelling the future because, according to legend, it was given to her by a god of Olympus.

 

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Tax Column
  Acquiring Recreational Property Through a Management Company

by

Patric Saint-Onge
CPA, CA, LL.M fisc., TEP
Tax Advisor



Corriveau Saint-Onge inc.

With the arrival of summer, many investors may be interested in acquiring a boat, cottage or RV. The question that is frequently asked is: can I buy it through my management company?

 

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This bulletin is provided for information purposes only and does not constitute a solicitation to buy or sell securities. The securities or classes of securities mentioned herein may not be suitable for all investors. This bulletin does not take into account the investment objectives, financial situations and specific needs of individual Desjardins Online Brokerage clients. Before making an investment decision based on recommendations made herein, readers are advised to evaluate their appropriateness in light of their individual financial situation and investment objectives and needs.

Desjardins Securities Inc. uses the trade name ?Desjardins Online Brokerage? for its discount brokerage activities. Discount brokerage products and services are consolidated under the trademark ?Disnat?. Desjardins Securities is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF).