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Forget Air Canada: 5 Canadian Stocks to Buy Instead – The Motley Fool Canada



Air Canada (TSX:AC) has been one of the most popular stocks in Canada since the pandemic began. Savvy long-term investors continue to see the major discount in share prices and recognize there could be an opportunity for recovery.

The stock faces a tonne of headwinds, though. So, with the current risk investors have to take on buying the stock, it’s actually reasonably priced. Currently, most analysts have an average target price of around $27 or $28. This gives Air Canada roughly 15% upside potential to its target price.

A 15% return isn’t horrible, but several Canadian stocks are far more attractive today. And when you consider just how much risk you have to take on for such a small potential return, it’s much better to pass on Air Canada.

Here are just five Canadian stocks offering investors far more potential than Air Canada today.

Parkland Fuel offers major recovery potential

Parkland Fuel (TSX:PKI) primarily refines, distributes, and markets fuel and other petroleum products across Canada and the United States.

With fuel demand impacted so severely by the pandemic, Parkland has seen a considerable impact on its business. Better margins have somewhat offset the decline in volumes.

Regardless, these are only short-term impacts. The stock, though, is still roughly 20% off its 52-week high. That’s an attractive discount for a quality long-term growth stock. And when you consider its monthly dividend yields 3.2% too, the stock is a much better option than Air Canada.

First Capital is considerably cheaper than Air Canada stock

First Capital REIT (TSX:FCR.UN) is one of the best real estate investments you can make. It’s a mixed-use REIT with retail, office, and residential assets. Unfortunately, the trust was impacted by the coronavirus pandemic, mostly with its retail locations.

However, this impact will only be short term, as First Capital assets are located in some prime locations. So, today’s heavily discounted stock price is extremely attractive.

First Capital is currently trading more than 30% below its 52-week high. That’s roughly double the return that Air Canada investors can expect from the stock today and with considerably less risk.

Freehold Royalties is a top buy today

Freehold Royalties (TSX:FRU) is one of the best dividend stocks you can find in the energy industry. On top of Freehold being a safer energy stock that’s great for dividend investors, it also offers significant capital gains potential as the entire energy industry recovers.

At current prices, the stock is roughly 15% off the average analyst target price. So, with the 3.5% dividend, investors can expect at least a nearly 20% return over the next year. I say “at least,” because as the situation with the economy gets better and energy continues to rebound, analysts will undoubtedly upgrade the stock.

Since November, the target price has already increased by more than 25% and should continue to grow as Freehold’s outlook improves. Therefore, with Air Canada offering a roughly 15% return and significantly more risk, Freehold is a much better stock to buy today.

CAE offers more potential than Air Canada stock

CAE (TSX:CAE)(NYSE:CAE) is the stock most similar to Air Canada on this list. While it’s not an airliner, CAE is a simulation company whose biggest segment is the airline industry.

By providing simulation technologies to the defence, healthcare, and aviation industries, CAE has been a rapid growth stock. The impact on the airline industry has undoubtedly had an impact on CAE.

However, these impacts are short term, and CAE is losing nowhere near the amount of cash Air Canada is losing.

With more long-term growth potential and a similar discount to the consensus analyst target price, CAE is clearly a better stock to buy than Air Canada today.

Corus Entertainment is extremely cheap

Lastly, Corus Entertainment (TSX:CJR.B) is a stock I’ve mentioned in the past for its incredible value. The company has been rallying consistently. However, it’s still well undervalued.

At current prices, the stock has a forward price-to-earnings ratio of just 7.1 times.

In my opinion, analysts are being cautious on the stock with their target prices. Yet the stock still offers investors a 20% return to the target. So, when you combine that with the ultra-safe 4.6% dividend, Corus is a much better option than Air Canada today.

In addition to these five value stocks, here is a top growth stock you may want to consider!

This Tiny TSX Stock Could Be the Next Shopify

One little-known Canadian IPO has doubled in value in a matter of months, and renowned Canadian stock picker Iain Butler sees a potential millionaire-maker in waiting…
Because he thinks this fast-growing company looks a lot like Shopify, a stock Iain officially recommended 3 years ago – before it skyrocketed by 1,211%!
Iain and his team just published a detailed report on this tiny TSX stock. Find out how you can access the NEXT Shopify today!

Click here to discover how!

Fool contributor Daniel Da Costa owns shares of CORUS ENTERTAINMENT INC., CL.B, NV and FREEHOLD ROYALTIES LTD. The Motley Fool recommends FREEHOLD ROYALTIES LTD.

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Ontario reports 172 new COVID-19 cases and 2 more deaths; 7-day average remains unchanged – CP24 Toronto's Breaking News



Ontario reported fewer than 200 new COVID-19 cases and two more deaths on Sunday, as the seven-day rolling average remains unchanged from yesterday.

Provincial health officials logged 172 new infections today, up from 170 on Saturday but down from 177 a week ago.

The province reported 192 cases on Friday, 185 on Thursday and 135 on Wednesday.

The seven-day rolling average now stands at 159, unchanged from Saturday but up slightly from a week ago when it was 153.

The province’s virus-related death toll is 9,313.

Another 144 people recovered from the virus yesterday, resulting in 1,450 active cases across the province.

Ontario labs processed 13,902 tests in the past 24 hours, down from 19,131 the previous day.

The drop in testing contributed to a slight day-over-day rise in the positivity rate to 1.1. per cent, compared to 0.8 per cent on Saturday, according to the Ministry of Health.

Another 152 lab-confirmed cases of variants of concern were identified in Ontario in the past 24 hours.

In the Greater Toronto Area, 48 cases of COVID-19 were logged in Toronto, 23 in Peel Region, nine in York Region, 11 in Durham and seven in Halton.

There are currently 127 people in intensive care units across the province due to the virus and 81 of those patients are breathing with the help of a ventilator.

To date, there have been more 549,300 lab-confirmed cases of the coronavirus and 538,565 recoveries since January 2020.

Over 8.5 million people are fully vaccinated against the virus after receiving two doses of approved vaccines.

More than 18.9 million doses of vaccine have been administered in Ontario since mid-December, with 103,812 shots into arms yesterday alone.

The numbers used in this story are found in the Ontario Ministry of Health’s COVID-19 Daily Epidemiologic Summary. The number of cases for any city or region may differ slightly from what is reported by the province, because local units report figures at different times.

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EU regulator endorses use of Moderna's COVID-19 shot for children – Al Jazeera English



European Medicines Agency gives all clear for vaccine to be used in children aged between 12 and 17.

The European Union’s medicines regulator has recommended authorising Moderna’s COVID-19 vaccine for use in children aged between 12 and 17, marking the first time the shot has been approved for people under 18.

In a decision on Friday, the European Medicines Agency (EMA) said research in more than 3,700 children of 12 to 17 years of age showed that the shot produced a comparable antibody response to that seen in 18- to 25-year-olds.

Use of the vaccine, Spikevax, will be the same in adolescents as in people over 18, the EMA said.

Formal approval by the European Commission – the EU’s executive arm – is needed to start rolling out the vaccine for teenagers. The body typically follows EMA recommendations.

Until now, the vaccine made by Pfizer and its German partner BioNTech has been the only option for use in children as young as 12 in North America and the EU.

Vaccinating children has been considered important for reaching herd immunity and in light of the rapid spread of the highly contagious Delta variant.

Most children with COVID-19 develop only mild symptoms or none. Yet children remain at risk of becoming seriously ill and can spread the virus.

‘Benefits outweigh the risks’

Moderna said in May that its vaccine was found to be safe and effective in teenagers. Hundreds of millions of doses of the shot have already have been administered to adults.

The EMA said common side effects in teenagers after vaccination with Spikevax were similar to those seen in older people.

But due to a smaller study size, the trial could not detect new uncommon side effects or estimate the risk of known ones such as myocarditis and pericarditis.

“The overall safety profile of Spikevax determined in adults was confirmed in the adolescent study; the CHMP (Committee for Medicinal Products for Human Use) therefore considered that the benefits of Spikevax in children aged 12 to 17 outweigh the risks,” the EMA said.

Heart inflammation such as myocarditis and pericarditis has been listed by the EMA as a possible but rare side effect from use of mRNA vaccines such as Moderna’s and Pfizer’s in adults.

Spikevax is already being used in the EU for people over 18, and in the United States and Canada.

Moderna has also sought authorisation in the US and Canada for its use in adolescents.

But with global vaccine supplies still tight, much of the world still is struggling to immunise adults, let alone children.

Agencies including the World Health Organization have urged rich countries to donate their doses to the developing world – where fewer than 2 percent of people have been vaccinated – rather than moving on to inoculate their less vulnerable populations.

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Ontario reports 170 new COVID-19 cases, over 8.4 million fully vaccinated – CTV Toronto



Ontario is reporting a slight decrease in new COVID-19 cases on Saturday from the previous day.

Officials marked 170 new cases of COVID-19 Saturday, with three additional deaths.

The province reported 192 new cases on Friday and 185 on Thursday.

The seven-day rolling average now stands at 159, compared to 151 a week ago.

Provincial labs processed more than 19,131 test specimens, generating a positivity rate of at least 0.8 per cent, according to the Ministry of Health.

The province’s COVID-19-related death toll stands at 9,311.

Another 150 people recovered from the disease yesterday, resulting in 1,424 active cases across the province.

Right now, there are 125 people in hospital with COVID-19 and 132 patients being treated in intensive care, according to the Ministry of Health.

The hospitalization data presented by the province has been skewed over the past several weeks, which may be explained by a delay in patient reporting.

Where are the new cases?

Officials are reporting 44 new cases in Toronto, 26 in Peel Region, 17 in Hamilton, 15 in the Region of Waterloo and 13 in Grey Bruce.

Update on COVID-19 variants of concern

The Ministry of Health is reporting 107 new cases of the Alpha variant Saturday, bringing the total number of cases in the province to ​​145,255.

Officials reported 12 new cases of Delta variant, B.1.617.2 and the case total is now 3,897.

Four cases of the Beta variant, B.1.351 were also recorded. So far, there have been a total of 1,489 cases of the Beta variant reported in Ontario.

As for the Gamma variant, P.1, 10 new cases were recorded today. The total number of Gamma variants recorded in Ontario is now 5,140.

Vaccination update

The province said it administered 124,261 doses of COVID-19 vaccines Friday.

Throughout Ontario’s seven-month vaccination campaign, over 18.8 million needles have gone into arms.

As of Saturday, 8,480,761 people have received both doses and are considered to be fully vaccinated.


The numbers used in this story are found in the Ontario Ministry of Health’s COVID-19 Daily Epidemiologic Summary. The number of cases for any city or region may differ slightly from what is reported by the province, because local units report figures at different times.

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