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The rally in Canadian equities led Ned Davis Research to urge investors to boost their exposure to the market by upgrading Toronto-listed stocks to overweight.
“Canada has moved in tandem with the US as a decisive outperformer,” writes Tim Hayes, chief global investment strategist at Ned Davis Research. He added that even after the rally, Canadian stock “valuations are far better and it is less dependent on the sectors of the megacaps.”
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