Updates on Loblaw Companies, Pengrowth Energy and Canadian Pacific Railway

Article Excerpt

LOBLAW COMPANIES $64.70 (Toronto symbol L; Shares outstanding: 374.8 million; Market cap: $24.3 billion; TSINetwork Rating: Above Average; Dividend yield: 1.8%; www.loblaw.ca) operates 1,083 supermarkets across Canada. It also owns the Shoppers Drug Mart chain of 1,335 drugstores. Health Canada has now awarded Shoppers Drug Mart a licence to produce medical cannabis. Shoppers does not plan to grow the drug, but has signed supply deals with several major cannabis producers, including Tilray, Aurora Cannabis and Aphria. This licence is the first step in Shoppers’s plan to distribute medical cannabis through its pharmacies. The second step is a sales licence, which would let it sell those products to patients over the Internet. In addition to medical cannabis, Loblaw is interested in selling recreational marijuana when it becomes legal on October 17, 2018. It has applied for a licence to sell the drug through its smoke shops in Newfoundland and Labrador. Loblaw Companies is a buy. PENGROWTH ENERGY $1.21 (Toronto symbol PGF; Shares outstanding: 547.4 million; Market cap: $672.9 million;…