A few weeks ago, I wrote about SNC Lavalin. It turned out to be right at the peak of its price. CP and VRX have done better. The point being, this method is short-term and it works, but not without fail.
Magna last week joined the top five stocks in the TSX 60 rated for momentum, and it has stayed there this week. Magna designs, develops and manufactures automotive systems, assemblies, modules and components, and engineers and assembles complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks.
Currently trading at a P/E of 9.1 and a price / book of 1.37, it appears cheap. It pays a dividend, but yields just 2.31%. The outstanding shares are owned almost 80% by institutional investors and most analysts rate it a buy. The one potential concern is the very high level of debt.