Q: The new AW shares started trading on the TSX and were at $41 dollars and change Monday morning. At this price would you see any upside over the next year or more of a income play given valuation.
5i Research Answer:
The 'easy money' from the conversion is likely gone, but we would still consider shares attractive for income. We could still see some upside as rates continue to fall, but we certainly would not expect the same type of gains as were achieved in the past few months with the corporate move.