UPDATING OLD MUTUAL
Finweek recently mentioned that SBG Securities had a “buy” recommendation on Old Mutual with a target price of £2.40. An updated report [from SBG] shows that the target price is £2.60. This translates into a 12-month target price of R37.46 at the current exchange rate of R14.41/£. It’s also interesting to note the possibility of further special dividends over the next three years.