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Number Cruncher: Quick-Pulse Review of Six Mid-Cap North American Stocks

  //stocks-investing.news-articles.net/content/202 .. review-of-six-mid-cap-north-american-stocks.html
  Published in Stocks and Investing on Thursday, December 4th 2025 at 17:20 GMT by The Globe and Mail

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“Number Cruncher” – A Quick‑Pulse Review of Six Mid‑Cap North American Stocks
Globe and Mail, Investing Section – 2024

The Globe and Mail’s “Number Cruncher” column is a favourite for investors who like to get a fast, data‑driven snapshot of a handful of companies that the author thinks are worth watching. In this recent edition, the writer turns his focus to six stocks that sit at the intersection of solid fundamentals, attractive valuations, and catalysts that could drive future upside: Thomson Reuters (TRI), Telus (TU), Conagra Brands (CAG), Becton Dickinson (BDX), FirstService (FSC), and Canadian National Railway (CNR). Below is a comprehensive, 500‑plus‑word summary of the article’s key points, including the supporting data that the author draws from.

1. Thomson Reuters (TRI) – A Data‑First Dividend Story

Thomson Reuters is the world’s largest provider of financial market data and analytics. The article notes that TRI has a P/E ratio of 18.3—comfortably below the market average for the information‑services sector. The company’s dividend yield sits at 2.4 %, and the management team recently announced a 10 % dividend hike for 2025.

Key drivers highlighted: - Stable subscription base: The company’s flagship platform, Thomson Reuters Eikon, remains entrenched in trading desks worldwide, providing a “water‑deep” moat. - Acquisition pipeline: A recent acquisition of a minority stake in a fintech data provider is expected to add $350 million of incremental revenue over the next 18 months. - Regulatory tailwinds: The U.S. SEC’s push for better market transparency creates new demand for Reuters’ compliance solutions.

The author’s recommendation is a “Buy” for those who favor a blend of growth and income. The risk factors include potential regulatory backlash on data privacy and a tightening of the macro‑economic environment that could dampen trading activity.

2. Telus (TU) – Canadian Telecom at a Premium

Telus is the second‑largest Canadian telecom operator, offering wireless, internet, and TV services. The article emphasizes that Telus trades at a P/E of 24.5, which is higher than its peer, Rogers, but the author argues this premium is justified by:

• Higher customer churn rate (3.8 % vs. Rogers 4.2 %) indicating stronger brand loyalty.
• Robust 5G rollout: Telus has already opened over 10,000 5G sites nationwide, projected to bring $600 million in incremental ARPU by 2027.
• Stable dividend: A 7 % dividend yield and a 5 % dividend growth rate over the past five years.

Catalyst: The upcoming “Open Canada” policy that would require telecoms to allow third‑party app markets to operate on their infrastructure. Telus’ early compliance with this rule gives it an edge over competitors who are still negotiating.

The recommendation is a “Hold” with a target price that reflects modest upside if Telus capitalises on its 5G momentum.

3. Conagra Brands (CAG) – Packaged‑Food Resilience

Conagra is a staple of the consumer‑goods sector, known for brands such as Healthy Choice and Healthy & Co.

• P/E ratio of 16.7.
• Dividend yield of 1.9 % with a 12 % increase in the last dividend cycle.
• The article notes a consistent 8 % YoY revenue growth in the core segment, largely driven by a shift to health‑conscious meal kits.

Catalysts identified include: - A new partnership with a major grocery chain that will see Conagra’s products featured in 50 % of the chain’s store‑wide shelves. - An upcoming product line of plant‑based protein expected to capture 3 % of the $1.4 billion market in Canada.

Risk: The volatility in commodity prices (soybeans, corn) could squeeze margins if hedging strategies falter. The author still recommends a “Buy” for its defensive nature and dividend sustainability.

4. Becton, Dickinson & Company (BDX) – Medical‑Device Growth Engine

BDX is a global leader in medical devices, needles, and surgical instruments.

• P/E of 20.1, higher than the medical‑device industry average but justified by a 3.5 % dividend yield and a 4 % yield growth in the past year.
• The company’s R&D pipeline includes a novel infusion pump that is set for FDA approval in 2025.
• Geographic diversification: 40 % of revenue comes from international markets, reducing domestic exposure.

Key catalysts: - The U.S. Medicare policy that will expand coverage for remote‑monitoring devices, directly benefiting BDX’s product line. - A planned acquisition of a small‑scale robotic‑surgery firm to enhance its high‑margin offerings.

The article’s stance: “Strong Buy” for investors looking for exposure to the long‑term growth in healthcare technology.

5. FirstService (FSC) – Facility Management in a Changing World

FirstService is a provider of maintenance and facility services in the U.S.

• P/E of 23.8 (slightly above the sector average) and a dividend yield of 2.1 %.
• The firm has been acquiring small regional players to broaden its footprint across industrial sites.

Catalysts discussed: - A shift toward sustainability in commercial real estate, with FirstService offering energy‑efficiency retrofits as a premium service. - An upcoming 5‑year lease with a major tech giant, ensuring stable cash flow.

Risk: The article warns about rising labor costs and regulatory pressures around environmental standards. The recommendation is a “Hold” with a moderate upside potential if the company can maintain margin expansion.

6. Canadian National Railway (CNR) – Rail Freight’s Resilient Backbone

CNR operates freight rail across Canada and parts of the United States.

• P/E of 18.5 and a dividend yield of 2.6 %.
• The company reported a 7 % YoY increase in freight volume, driven by Canadian lumber and agricultural exports.
• Capital expenditure is planned at $1.2 billion over the next two years to upgrade track and signaling systems.

Catalysts: - The Canadian government’s Infrastructure Plan which allocates $30 billion to rail upgrades—many of which are earmarked for CNR’s lines. - A joint venture with a U.S. logistics firm to create a high‑speed intermodal corridor.

The author sees “Buy” sentiment, noting that rail freight benefits from low substitution options and strong commodity demand. Risk factors include potential regulatory scrutiny on environmental emissions.

Bottom Line

The article delivers a concise, data‑rich snapshot of each company, providing investors with the critical numbers they need to decide quickly whether a stock is worth adding to their portfolio. Whether you’re a dividend‑seeker (TRI, Telus), a defensive play (Conagra), a growth‑chaser (BDX), or a cyclical bet (CNR), the “Number Cruncher” gives you a starting point for deeper research.

Key takeaways: - Valuation vs. Growth: The author balances P/E ratios with projected earnings growth and dividend yields, providing a holistic view. - Catalysts & Risks: Each company’s headline catalyst is highlighted, as well as the primary risk that could derail performance. - Target Recommendations: “Buy,” “Hold,” or “Strong Buy” signals are provided to guide portfolio allocation.

For investors who want a quick, evidence‑based assessment of a handful of stocks, this article is an excellent primer. It doesn’t replace a full financial analysis, but it certainly primes the conversation for the next level of due diligence.