Barlow’s Research Roundup: BMO analyst picks biggest winners from an expected energy investment boom

TOP LINKS Barlow’s Research Roundup: BMO analyst picks biggest winners from an expected energy investment boom SCOTT BARLOW MARKET STRATEGIST PUBLISHED YESTERDAY COMMENTS SHARE SAVE FOR LATER Listen to this article Learn more about audio Log in or create a free account to listen to this article. Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow ENERGY INVESTMENT BOOM BMO analyst Ben Pham outlined the potential winners from an expected boom in domestic oil and gas investment, “We believe the development of large scale oil pipeline projects in Western Canada is shaping up as a major investment opportunity for Canadian energy infrastructure companies. Rising oil production, favorable macro and political backdrop, higher commodity prices and tight pipe capacity are the key drivers. Fortunately, there are 2.5M bbl/d of proposals in various stages of development just in the nick of time, though it is unlikely that all will be built and/or built on time. Companies that are participating directly include SOBO (’market perform’), PPL (Mkt), and ENB (’outperform’) with proposed oil infrastructure projects. We also flag ALA (OP), KEY (OP) and PPL (Mkt) for follow-on NGLs/ condensate/exports requirements, GEI (Mkt) for oil storage, ACO.X (OP)/CU (Mkt) for regulated ‘wires’ and CPX/TA (both OP) for power generation” BRIGHT OUTLOOK FOR CYBERSECURITY The outlook for cybersecurity corporate profit growth continues to brighten, according to BofA Securities analyst Tal Liani, “Cybersecurity sentiment continues to improve as investors focus on the security implications of agentic AI. Over the past month, cyber ETFs HACK/CIBR 7.3 per cent/6.4 per cent have outperformed the IGV software ETF and S&P 500 up 2.8 per cent/down 0.9 per cent, respectively. The AI conversation has flipped from disruption risk to recognition that AI creates new attack surfaces, new identities, and new governance needs which demand additional security investment. We believe the market is increasingly pricing in a step-function increase in cyber risk, supporting both higher security spending and a more constructive valuation framework across the sector. We are raising our POs [price objectives] for CrowdStrike, Okta, and SailPoint and view cybersecurity as a mega-theme and enabler of the AI era” TECH RALLY INTACT Scotiabank strategist Hugo Ste-Marie found signs of an intact tech rally, “Preliminary Korean trade data are providing another…