CEO Who Called Canada's Stock Bottom Sees $90 Oil by 2020

Fiera CEO Desjardins predicts energy stocks will rise with oil
Eyeing 16 possible acquisitions to boost AUM to C$200 billion

Jean-Guy Desjardins
Source: CNW Group/Fiera Capital Corporation

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By Kristine Owram

June 16, 2017 at 4:00 AM UTC

Updated on

June 16, 2017 at 4:59 PM UTC

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Early last year, Jean-Guy Desjardins correctly predicted that Canadian equities were due for a rebound. He’s now saying oil prices will double, taking energy stocks along for the ride.

"The fundamentals of the global supply-demand relationship are favoring higher oil prices," Desjardins, chief executive officer of Fiera Capital Corp., said in an interview in Toronto on Thursday. "When it goes up it’s going to go up for an extended period of time. I think it can go back to $90, not in six months but over a couple of years."