Q: An anecdotal comment and a question.
1) When you recommended ECN as part of the portfolio I purchased EFN instead, a fat finger mistake. Unfort when I realized the 'mistake' I made I sold me EFN and bought ECN. A mistake I wished I hadn't corrected.
2)An analyst I follow, with a 65% success rate (wished I was that good) made this recco this am.:
"TD Securities analyst Mario Mendonca downgraded ECN Capital Corp. (ECN:CN) (OTC: ECNCF) from Buy to Hold with a price target of Cdn$0.00..."
I have seen your comments on ECN this am. Its performance has been abysmal ever since it was added to the port, how strongly do you feel ECN will survive and not hit 0?
Sheldon
1) When you recommended ECN as part of the portfolio I purchased EFN instead, a fat finger mistake. Unfort when I realized the 'mistake' I made I sold me EFN and bought ECN. A mistake I wished I hadn't corrected.
2)An analyst I follow, with a 65% success rate (wished I was that good) made this recco this am.:
"TD Securities analyst Mario Mendonca downgraded ECN Capital Corp. (ECN:CN) (OTC: ECNCF) from Buy to Hold with a price target of Cdn$0.00..."
I have seen your comments on ECN this am. Its performance has been abysmal ever since it was added to the port, how strongly do you feel ECN will survive and not hit 0?
Sheldon
5i Research Answer:
Our ECN start price in the growth portfolio is $3.30 per share. Current price $2.75. Not good on the surface, but ECN paid a special dividend of $7.50 in December 2021. So the portfolio did benefit with a dividend more than twice the cost base. This does not include another appox. $0.60 more in regular dividends while held as well. In our data, TD's new target shows as $4, not $0. We would be kind of surprised if any analyst had a target of $0 and still had a HOLD rating.