14:15:34 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Canaccord Genuity Group Inc
Symbol CF
Shares Issued 102,313,665
Close 2015-01-14 C$ 7.27
Market Cap C$ 743,820,345
Recent Sedar Documents

FP says Canaccord's Roberge bullish on U.S. banks

2015-01-15 08:43 ET - In the News

The Financial Post reports in its Thursday, Jan. 15, edition that United States bank stocks fared worse than the broader market last year, but they are set to rebound, says Canaccord Genuity Group analyst Martin Roberge. The Post's David Pett writes in the Trading Desk column that Mr. Roberge says: "The group lagged the market in 2014 despite improving fundamentals. ... We believe U.S. banks will do better in 2015." Mr. Roberge believes there are several catalysts that support his recommendation. First, U.S. housing activity is expected to pick up and bring down home inventory levels. He says: "Already, growth in the monthly supply of new homes is falling fast and could well contract in 2015. ... In addition, demand for mortgage loans should get a boost from an improved labour market, moderate home price inflation and mortgage rates drifting back below 4 per cent, a net positive for housing affordability." Second, lending risk and earnings-per-share risk has been lowered at the U.S. banks. The third tailwind is the U.S. Federal Reserve decision to delay part of the Volcker Rule for another two years. Mr. Roberge believes U.S. banks offer a good risk/reward ratio.

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