Finweek English Edition - - INVESTMENT -

In­vest­ment bank­ing group UBS has re­it­er­ated its rec­om­men­da­tion on the South African re­tailer. UBS is­sued a price tar­get of a R160/share and told clients: “We es­ti­mate that Fos­chini’s div­i­dend could also be in­creased by a sus­tain­able 24%, and our back test­ing sug­gests the risk would also be rel­a­tively low. We be­lieve man­age­ment could un­lock sig­nif­i­cant value through this mech­a­nism over the next 3-5 years.”

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.