Canadian stocks rated by Iain Fraser

Manulife - a Canadian champion

Manulife Financial ($57.40) like Northern Dancer is a true born and bred Canadian champion. Both have excelled in their fields.

In the past two months the analysts have slightly lowered their earnings forecasts for '05 and '06; in 2004 the earnings were $3.75 per share. The forecast for '06 has been lowered from $5.00 per share to $4.90 per share and the stock has been stuck in a narrow trading range.

On the other hand, our rating is well below 0.85 which makes Manulife stock excessively undervalued and a #1 topick.

DJIA for us has the right stuff!

Most of the 30 stocks in the  Dow Jones Industrial Average have been going down for the past five or six years and as a group are lower now than they were then.

But as a group the earnings, cash flow, dividends, and book value are much higher. It is only a matter of time before the fundementals win out; and we think this will start to show in a matter of months, not years.

In our Report of June 2/05 we have designated three Dow stocks as "topicks". If you would like to see this Report just email us at fraserratings@yahoo.ca