Craig Pheiffer the Head of Private Client Asset Management at Absa Investments believes that the group has done a lot of things right in the last few years operationally but believes recent price action fairly ref lects the prospects for the group. In a note to clients Pheiffer said: “Overall the headline results were better than the market expected and the share price reacted positively. After the first day’s trade in March the share was trading at 7751c, 25% higher than its closing price of 6219c on 31 December 2012. Discovery is the best-performing counter in our portfolios for the year to date and the price looks full in the short term. We will continue to monitor prospects (as well as all of the actuarial assumptions), always keeping the longer-term picture in mind.”
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