Friday, June 25, 2021

Canadian shares are a bargain again

Canadian shares are a bargain at a time when “U.S. stocks look frothy,” in Bank of America Corp.’s view. Strategists Ohsung Kwon and Savita Subramanian made the argument in a report last week that compared forward price-earnings ratios for the S&P/TSX Composite and S&P 500 indexes. The valuation gauge showed Canada’s benchmark was 23% cheaper as of Friday, according to data compiled by Bloomberg. The discount bottomed out April 13 at 27%, the biggest in more than two decades. “Canada looks particularly attractive” as the global economy rebounds, the report said.


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