acquisition

RESMED INC., $225.97, is a buy. The company (New York symbol RMD; TSINetwork Rating: Average) (www.resmed.com; Shares outstanding: 146.5 million; Market cap: $33.1 billion; Dividend yield: 0.7%) makes medical devices used to treat patients with sleep apnea as well as chronic obstructive pulmonary disease and other respiratory conditions.


With each machine ResMed sells, it acquires a long-term replacement-parts customer....

Canada legalized cannabis 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 their prospects for added sales in the U.S....

Barrick has moved up recently—along with gold prices. The gains were likely spurred by the growing belief among investors that interest-rate increases have started to slow as inflation eases. That should push up investor demand for gold as the appeal of interest-bearing investment and the U.S....

For 2023, we have singled out three growth stocks that we think offer you exceptional prospects in the year ahead. What’s more, each of the three is a market leader, which cuts your risk if the economic outlook weakens.


INTACT FINANCIAL, $198.96, is a #1 Power Buy for 2023. The insurer (Toronto symbol IFC; TSINetwork Rating: Extra Risk) (www.intactfc.com; Shares outstanding: 175.3 million; Market cap: $34.8 billion; Dividend yield: 2.0%) provides investors exposure to Canada’s largest property and casualty insurer....

OKTA INC. $69 is a hold. The company (Nasdaq symbol OKTA; Manufacturing & Industry sector; Shares outstanding: 160.2 million; Market cap: $11.1 billion; No dividend paid; Takeover Target Rating: Medium; www.okta.com) is a cybersecurity firm that provides companies with workforce identity and customer identity solutions.


Okta first sold shares to the public and began trading on Nasdaq in April 2017 at $17 a share.


In May 2021, it completed the acquisition of Seattle-based Auth0 for $6.5 billion....

A: Tamarack Valley Energy Ltd., $4.60, symbol TVE on Toronto (Shares outstanding: 556.4 million; Market cap: $2.5 billion; www.tamarackvalley.ca), is an oil and gas exploration and production firm in Western Canada....

BARRICK GOLD CORP., $26.30, is a buy. The company (symbol ABX on Toronto) is the second-largest gold miner in the world after Newmont (symbol NEM on New York, and a recommendation of our Wall Street Stock Forecaster newsletter).

Barrick now plans to focus on building new mines instead of on acquisitions....

ALGONQUIN POWER & UTILITIES CORP., $8.93, Toronto symbol AQN, is still a buy for long-term gains.

The company has two main businesses: the Regulated Services Group provides regulated electricity, gas, water distribution and wastewater collection services in Canada, the U.S., Chile, and Bermuda; and the Renewable Power Group produces electricity from about 40 clean-energy plants in North America.

Algonquin needs to conserve cash for its upcoming acquisition of Kentucky Power Co., which generates and distributes electricity to 228,000 customers in Kentucky.

The company will pay $2.65 billion U.S., including Kentucky Power’s debt....

CANADIAN PACIFIC RAILWAY LTD., $105.96, Toronto symbol CP, is your #1 Conservative Buy for 2023.

CP ships freight over a 23,700-kilometre rail network, mainly between Montreal and Vancouver. It also links to hubs in the U.S. Midwest and Northeast.

This is the fifth year in a row we’ve picked CP as our #1 Conservative stock....

DROPBOX INC., $23.07, symbol DBX on Nasdaq, is a U.S. company that provides cloud storage and related services for both individuals and firms.

Beginning in 2007, the company has focused on providing a way to synchronize computer files between registered users....