High debt loads hold them back

In the past few years, big pharmaceutical companies have spun off their consumer drug operations. That’s part of their strategy to focus on more-profitable prescription drug businesses. These two recent spinoffs have decent long-term prospects, but their shares will likely remain depressed until they cut… Read More

Cannabis Corner: Keep an eye on these industry stocks

Canada legalized cannabis over four years ago. While demand has been steady, stiff competition has cut selling prices significantly. Meanwhile, advertising restrictions and plain packaging rules make it hard to build brands that win customer loyalty. Still, we think some companies have a distinct edge—including… Read More

What is Pat’s commentary for the week of May 2, 2023

This week’s Spotlight analysis of Alimentation Couche-Tard shows that the potentially risky tactic of growth-by-acquisition can pay off nicely when a well-managed company applies that strategy conservatively in a fragmented industry with low-risk takeover opportunities.

We first recommended Alimentation Couche-Tard in December 2008, at $15.50 a.. Read More