RBC's 'Focus List' stock picks have returned 11.3% in annual growth over the past five years, outperforming its benchmark.
RBC has raised its bets on convenience store operator Alimentation Couche-Tard , doubling the weighting of the stock in its "Focus List: Fall 2023" bucket to 5%. The company, along with 26 other stocks, were also on RBC's "Summer 2023" list. Although the bank's stock list has underperformed over the past six months, it has historically and consistently beaten its benchmark S & P/TSX Index . The RBC Strategy Canadian Focus List returned 11.
"The [adjusted earnings] multiple is consistent with the average of the five-year range, reflecting overall sector valuation trends, and supported by ongoing strong normalized underlying performance, relatively recession resistant business model, and benefits from prior-period merger and acquisition," said RBC Capital Markets' analyst Irene Nattel in a note to clients on Sept. 1.
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