How the 5 best TSX stocks in 2013 so far stack up

How the 5 best TSX stocks in 2013 so far stack upWe take a look at what the future holds for a handful of the S 60's biggest winners during the first half of 2013.

Valeant Pharmaceuticals Inc. (VRX/TSX): $90.68, 52.8% YTD

Valeant is the top performing stock on Canada's premier large cap index so far this year and looks set to climb even further. The pharma company has become a solid growth story that has benefited from Cheap Cardinals Jerseys a string of acquisitions, including the pending $8.7 billion purchase of eyecare giant Bausch Lomb announced last month. "This gives them a legitimate presence, positions them as one of the larger players in the space," Neil Maruoka, a Canaccord Genuity analyst, said at the time of the deal. "And gives them a platform, another platform, from which to grow."

Magna International Inc. (MG/TSX): $74.86, 50.7%

Magna International Inc. shares have not missed a beat after rising more than 40% in 2012. The stock is nicely up again, but more modest gains are now expected. Canaccord Genuity analyst David Tyerman said the auto parts maker has had good earnings as a result of strong auto sales in North America and a restructuring of its money losing European operations. "I expect some more upside from further results improvements, especially in Europe and emerging markets in coming years," he said. "But, I think we are at normal valuation multiples, so I don't expect this factor to have much impact going forward."

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Canadian Pacific Railway Ltd. (CP/TSX): $127.53, 26.4%

CP Rail shares continued to rise to new highs during the first half, but the stock may Cheap fake oakleys have finally run out of track as it has fallen 11% since mid May, largely on news that Pershing Square Capital Management Ltd., the largest shareholder, has begun exiting its position. "We believe the company has made significant and important strides in improving its operations, and we believe there is still more to come," Cheap Ravens Jerseys said RBC Capital Markets analyst Walter Spracklin. "However, a share price that builds in realistic expectations for this improvement in our view would be below $110. Financial Corp. interest rates has been the catalyst behind Manulife rise and should continue to be so. Peter Routledge, a National Bank Financial analyst, said the life insurer has largely immunized its balance sheets from declines in long term interest Cheap Falcons Jerseys rates and, in so doing, given up their gearing to rising interest rates. "Nonetheless, a rising rate environment would make the new life insurance contracts each company now sells re priced for today's current interest rate environment much more profitable," he said.

Bombardier Inc. shares impressively rallied prior to this month's Paris Air Show. But the industry's marquee event wasn't kind to Bombardier as it failed to win a single order for its new CSeries aircraft and rival Embraer SA launched a family of larger regional jets. Now Bombardier has delayed the CSeries' first flight by a month to the end of July, which puts pressure on its plans to deliver the plane by mid 2014. Steve Hansen, Raymond James analyst, said by Bombardier own admission, a one year flight test program was already ambitious. "In this context, we feel there is likely an increasing risk to the company [entry into service] guidance, which we believe bears monitoring," he said. Share price information shown is as of Friday close.

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