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Recent Research Reports

Top Down Analysis – Picks & Shovels: GE Vernova Inc. (NYSE: GEV) & Bloom Energy Corporation (NYSE: BE)

Published on September 10, 2025

Burgeoning investment in Artificial Intelligence infrastructure and the reindustrialization of the United States is poised to deliver an extended period of unprecedented power demand growth. On the private side, Artificial Intelligence provides the opportunity to realize the greatest business model in history. On the public side, both AI and reshoring production are a significant national security concern in a geopolitical environment ripe with rising tensions. The background of aging North American power infrastructure creates the opportunity for explosive and long term growth in the power supply business, and as top ideas to play on the theme we have selected GE Vernova Inc. (NYSE: GEV) & Bloom Energy Corporation (NYSE: BE).

Telesat Corporation (TSX: TSAT), The Final Frontier

Published on June 29, 2025

Telesat Corporation is a leading global satellite operator, offering services for voice, data, and video communications and high-speed internet access. Dramatic growth in global demand for broadband services has presented the company with a unique opportunity to expand operations into the low Earth orbit satellite space, through the buildout of its 198 satellite constellation: Telesat Lightspeed. Telesat offers investors a high-risk, higher-reward proposition, with the potential for truly explosive returns. At current levels, we view the shares as a Strong Buy.

Top Down Analysis – Banking on Consolidation: Kiwetinohk Energy Corp. - (TSX: KEC)

Published on June 16, 2025

Future growth of North American liquefied natural gas exports have been a significant driver of an uptick in drilling activity and mergers & acquisitions in Canada’s Montney and Duvernay formations. These formations boast some of the largest natural gas reserves found globally which have been exploited only to a small extent, creating significant opportunities for accretive acquisitions in the space. Expected synergies from consolidation of land ownership and associated assets coupled with a strong backstop of growing export capacity and low costs of financing are expected to create significant tailwinds for further consolidation activity. For a small cap investor, the dream of a 50%+ takeover premium does not seem so distant. As a top pick to play on the theme, and an attractive standalone investment, we have selected Kiwetinohk Energy Corp. (TSX: KEC).

Westshore Terminals Investment Corporation (TSX: WTE), Riding the Incoming Tide

Published on May 31, 2025

Westshore Terminals Investment Corporation operates North America’s largest coal export terminal, located near Delta, British Columbia. The company is currently developing its facility to allow for the addition of approximately 9 million tonnes of potash exports per year (currently exporting ~26 million tonnes of coal per annum or Mtpa) in a partnership with BHP Group Ltd. We believe Westshore is a one of a kind asset and presents investors with a unique and attractively valued investment opportunity.

Superior Plus Corp. (TSX: SPB), The Basket Case for Value

Published on May 25, 2025

Superior Plus Corp. (TSX: SPB) is a leading North American distributor of Propane and Compressed Natural Gas (“CNG”). The company has recently laid a framework for a multitude of positive transformations which the market has not yet reflected in share prices. We view the opportunity as a classic value investment and think that shares offer an attractive risk reward proposition at current levels.