Upgrade to Portfolio Analytics to Gain Access to the Macro Market Models Service
A reminder to 5i members on a basic membership plan that our latest Macro Market Models service is available to members with a Portfolio Analytics plan.
These models are tools that are intended to help members better understand when the broader market picture looks more or less attractive. While these models are not meant to be ‘buy or sell’ indicators by any means, they can help investors understand when the markets are better stacked in an investors’ favour or when the risks might be heightened in a certain market.
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Report Updates
We have posted report updates on Richelieu Hardware (RCH), TFI International (TFII), and ATS (ATS). RCH is a leading importer, distributor and manufacturer of specialized hardware in North America. TFII operates as a diverse transportation operator, and ATS is an industry leader in planning, designing, building, commissioning and servicing automated manufacturing and assembly systems. One name believes its margins can improve in the second half of the year, another name expects headwinds in a couple of its market segments, while the third name we feel has a strong capital allocation policy. Two of the names we are willing to downgrade in the future if earnings do not show improvement.
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Dropping Company Coverage
We are dropping company coverage on Tricon Residential (TCN). Tricon has been acquired by Blackstone and the all-cash offer of U$11.25 was approved and closed on May 1, 2024. Trading was halted on TCN effective May 2, 2024. We feel the takeover was at an attractive premium for investors, and due to the takeover by Blackstone, we are dropping coverage on TCN.
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