01:04:03 EDT Thu 23 Sep 2021
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Bank of Montreal
Symbol BMO
Shares Issued 647,470,963
Close 2021-07-21 C$ 124.12
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Globe says BMO, others beating the market

2021-07-22 07:11 ET - In the News

Also In the News (C-CIGI) Colliers International Group Inc
Also In the News (C-CIX) CI Financial Corp
Also In the News (C-POW) Power Corp of Canada
Also In the News (C-WN) George Weston Ltd
Also In the News (C-WSP) WSP Global Inc

The Globe and Mail attempts to identify Canadian stocks beating the market but still cheap relative to peers in its Thursday edition. The Globe's guest columnist Arjun Deiva writes in the Number Cruncher column that year-to-date, the S&P/TSX Composite Total Return Index has risen 16.1 per cent, a display of the market's resiliency. That said, the impressive performance of the equity index continues to raise the question whether we are overpaying for sought-after stocks on a tear. To this end, Mr. Deiva looked for companies that have indeed outperformed the index yet still appear undervalued relative to their peers. To find these stocks, he ranked stocks on several momentum factors: three-, six- and nine-month price change (higher values preferred); three-, six- and nine-month market-relative price change. (Here the market is represented by the S&P/TSX Composite Total Return Index. Higher values preferred.) He considered the stocks' sector-relative price-to-earnings, price-to-sales, price-to-book and price-to-cash-flow ratios to look for companies with multiples below their peers. Mr. Deiva's recommended picks are Bank of Montreal, George Weston, Colliers International Group, Power Corp of Canada, WSP Global and CI Financial.

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