Canada dominates RBC top 30 global investment ideas for 2022
BNN Bloomberg
Canadian companies accounted for nearly one-quarter of the individual equities from around the world where RBC Capital Markets sees substantial upside potential in the early months of 2022.
Canadian companies accounted for nearly one-quarter of the individual equities from around the world where RBC Capital Markets sees substantial upside potential in the early months of 2022.
Seven TSX-listed, Canadian-headquartered businesses were included in the first-quarter update of RBC’s Top 30 Global Ideas for this year which the bank distributed to clients on Tuesday. They represent multiple sectors of Canada’s economy, spanning retail, natural resources, transportation, and telecommunications.
Each company is listed alphabetically below along with a summary of RBC’s investment thesis.
Alimentation Couche-Tard Inc. (ATD)
The Montreal-based convenience store giant has “multiple avenues for growth”, according to RBC Analyst Irene Nattel. The operator of the Circle K brand currently generates more than 85 per cent of its revenue from outside of Canada with a recent acquisition in Asia giving the company “a platform for accelerating growth” in new territories. Couche-Tard is also the only North American player with a strong footprint in Norway, which is a global leader in electric vehicle sales, Nattel writes. As a result, Couche-Tard “is gaining valuable insight into consumer behaviour [and] revenue opportunities associated with top-up charging.” With a $73-per-share price target, RBC expects the stock to provide a roughly 48 per cent return by early 2023.
AltaGas Ltd. (ALA)
