Valuations in Canadian industrials under scrutiny after pullbacks
National Bank of Canada’s Maxim Sytchev links recent pullbacks in Canadian industrial and tech names like Bird Construction, Toromont and Finning International to a broader market unwinding of “AI-exposed” trade, citing macro equity positioning and valuation pullback.
Recent pullbacks across Canadian industrial and tech names like Bird Construction, Toromont and Finning International stem from a broader market unwinding of "AI-exposed" trade, says Maxim Sytchev of National Bank of Canada.
He points to macro equity position and valuation pullback as data center c…