BMO Equity Research IN Tune BMO Capital Markets Equity Research

In this special podcast we discuss the outlook for uranium ahead of the World Nuclear Symposium in London, covering market dynamics, current sentiment towards uranium, and the demand growth potential from small modular reactors. (18 min).
BMO clients can view our report, "U Kids on the Block", by visiting: https://researchglobal0.bmocapitalmarkets.com/research/d1f5bec3-dfbe-418b-9674-948f8ba6a84e/
Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/MmtwT0dqQzJRYklaQmQrbVBjZmJHZ1RWVVMzN2hyd2VFNzdNMmc4amVzdGNPRUNhZmFlaFpST0xsYkQvazZPTVdhQWhJNW14OHFUZERNSlVLbUhpZ3c9PQ2.PDF
To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

Fadi Chamoun and John Stephenson join this edition of our IN Tune podcast to discuss their recent report on FedEx and its well-received cost reduction plan. Although the plan is sizeable and recent results are favorable, they argue that the program needs to be deeper and bolder and see the risk/reward in the stock as more balanced despite the encouraging steps FDX has taken to improve efficiency.
BMO clients can view our report, “FDX/UPS Comparative Analysis: Deeper & Bolder DRIVE Needed”, by visiting: https://researchglobal0.bmocapitalmarkets.com/research/8e109870-0fcb-4e7a-841a-c26227a2c822/
Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/SFROWlVDM1RJRWUvNXFEaWxGekoyMjFITVpFdUtsTGFJYVZLU2JTbjQxaGplbXVHd1hJT3Z3VEZuQkJpUEQ4RkhlaDlXcmxSc2RZSkYxYll1SmJQMEE9PQ2.PDF
To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

BMO Capital Markets’ CEO & Group Head, Dan Barclay, moderates a discussion on the takeaways from BMO’s 18th Annual Farm to Market Conference across the food and agriculture value chain. Equity Research Analysts, Kelly Bania, Joel Jackson, Doug Morrow and Andrew Strelzik, join Dan for an engaging discussion that includes commodity price volatility, inflation, ag tech, regenerative agriculture, food waste and how all of this impacts equities in the sector. Essentially this is a deep dive into the core themes and takeaways from our May 2023 Farm to Market Conference.
Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/Q0dERWYrK0RZNFVSUnBTZEZEQU5IbnlVSTNsNlU5c1BJTEFweEc2aEFmenJkNkxGL2NiUlBST2xkSkk1WmFpV0FRSzJxOWhMWE9XZFVzanQwMkxvL1E9PQ2.PDF
To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

Mike Markidis, MD & BMO REITs Analysts walks us through his 2023 outlook. He suggests that higher interest rates have him more cautious, particularly as the adjustment process continues and the spectre of a recession looms. Accordingly, from his perspective, investors' expectations should be more tempered in 2023. Valuation screens attractive on a P/NAV basis, but our weighted average AFFO yield spread is below the LTA. In addition, capital constraints and the potential impact of a recession on tenant demand are formidable challenges; not to mention regulatory uncertainty. Given this backdrop there are still opportunities. From a fundamental perspective industrial real estate is at the top of our pecking order followed by multi-residential.
BMO clients can view our report, “2023 Outlook: Something's Gotta Give”, by visiting: https://researchglobal0.bmocapitalmarkets.com/api/v1/publication/getPublicationPdfLive/?id=27730d9f-243c-45fd-95a8-7233995c96c3&read=true&stamp=1672947432901000&sitename=Equity
Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/E174D118-40BE-4460-9143-EB52AC209805.PDF
To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

In this episode of IN Tune, we are joined by Doug Morrow, ESG Analyst; Rachel Walsh, Carbon Innovation Analyst; Saj Shapiro, Head, BMO Radicle; and Chelsea Bryant, Managing Director, Trading, BMO Radicle, discuss the interplay between BMO Radicle, energy transition, and the world of carbon credits. In December 2022, BMO Financial Group completed its acquisition of Radicle, expanding the bank's carbon credit development capabilities and its footprint in the environmental commodity market, and deepening its commitment to help clients understand and assess energy transition risks and opportunities. In 40 minutes we run through the basics of carbon trading and pricing, Radicle’s expertise in developing offsets, trading, and advisory, as well as our panelists' outlook for 2023 carbon markets.
Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/DF504F7B-36E2-4E16-9A5B-75E6BDF8C863.PDF
To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/

The Best of BMO is our quarterly compilation of our broad macro views, as well as our best stock ideas for the next 12 months. Essentially, it is an equity idea book. In this episode, we are joined by eight of our mining analysts to delve into the details of their Best of BMO stock picks. Joining the podcast are Dave Gagliano, Alex Pearce, Jackie Przybylowski, Brian Quast, Andrew Mikitchook, Rene Cartier, Raj Ray, and Ryan Thompson.
BMO clients can view our report, “The Best of BMO Q4/22”, by visiting: https://researchglobal0.bmocapitalmarkets.com/research/e8264d3e-3c7a-40c3-a722-45448d47bd32/
Episode transcript: https://research-ca.bmocapitalmarkets.com/documents/387605AD-21CC-46F9-9D77-877FB4B16CDA.PDF
To access our full disclosures, please visit: https://researchglobal0.bmocapitalmarkets.com/public-disclosure/