Updating Hartco Income Fund, Bombardier Inc., Legacy Hotels Real Estate Investment Trust, and Pengrowth Energy Trust

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HARTCO INCOME FUND $3.96 (Toronto symbol HCI.UN) is a thinly traded investment in the highly cyclical computer equipment industry. We feel it could have trouble maintaining distributions. Sell. BOMBARDIER INC. $6.50 (Toronto symbol BBD.A) continues to win new orders for new aircraft, including a $334 million U.S. order for 10 new jets from U.S.-based Mesa Air Group Inc. That’s just a fraction of Bombardier’s annual revenue of $15 billion U.S., but deals like this enhance its standing with regional airlines. Bombardier’s new alliance with a Chinese aircraft company should also cut its development costs. Buy. LEGACY HOTELS REAL ESTATE INVESTMENT TRUST $12 (Toronto symbol LGY.UN) reached $15 in June as speculation grew regarding its “strategic review”, including a possible sale. However, Legacy moved down after it received several non-binding takeover offers worth about $12.60 a unit. Even if Legacy decides against a takeover, the review has helped draw attention to its high-quality hotels. Hold. PENGROWTH ENERGY TRUST $21 (Toronto symbol PGF.UN) has stayed…