Friday, 8 April 2011

Carfinco - Again A Top Pick



Carfinco Income Fund TSX:CFN.UN
Shares Outstanding: 23.97 million
Units fully diluted: 24.6 million

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Carfinco got the nod yesterday as a "Top Pick" from Jamie Horvat of Sprott Asset Management during BNN's Market Call segment. Carfinco is owned in Sprott's Opportunities Hedge Fund.

Mr. Horvat mentioned that Carfinco was cheap at 9 times PE (Price to Earnings) also noting the recent news from the company that it recently increased its bank line to $130 million from $105 million with its banking syndicate. Carfinco will also drive growth with its move into C & D credit lending.

It was also noted that Carfinco has a history of paying out a 4-4.3% yield not including special distributions.

The segment can be viewed by clicking here,

then scroll down to Market Call Top Picks (04-07-11)