Traders An­a­lysts giv­ing you the low-down


Finweek English Edition - - INSIDE -


Stock­bro­ker­age Imara SP Reid is bullish on the out­look for this JSE-listed di­ver­si­fied in­dus­trial con­glom­er­ate. An­a­lyst War­wick Lu­cas told clients: “Bid­vest’s in­terim trad­ing state­ment (re­leased 4 Fe­bru­ary) ad­vised that in­ter­ims to 31 Dec will see HEPS [head­line earn­ings per share] up 15%17% higher than 1HFY13’s 725c while earn­ings per share will be 17-19% higher. This cer­tainly ex­ceeded the an­nu­alised ex­pected rate of growth on I-Net con­sen­sus, and no doubt was boosted by rand weak­ness but given the cur­rent state of the rand, there’s no rea­son it shouldn’t work through H2. This solid re­sult was how­ever wasted on a testy mar­ket wrapped in the lat­est emerg­ing

mar­ket (non-) cri­sis and sees Bid­vest at a level where it def­i­nitely of­fers value. Re­sults will be pub­lished on about 27 Fe­bru­ary. You can buy ahead of that.” VIS­UAL IN­TER­NA­TIONAL

FNB Se­cu­ri­ties says t hat in­vestors may want to con­sider this new prop­erty list­ing com­ing to the AltX shortly. Ac­cord­ing to FNB Se­cu­ri­ties, the com­pany, which is based in Cape Town, is fo­cused on de­vel­op­ing en­tire suburbs for the mid­dle-in­come mar­ket (houses, apart­ments, re­tire­ment vil­lages, schools, of­fices, re­tail space, re­cre­ation fa­cil­i­ties etc.). Vis­ual re­tains a one-third in­ter­est in its de­vel­op­ments and has a zero va­cancy rat­ing at the mo­ment.


Peter Garnry, head of equities at Saxo Bank, says that he be­lieves that air­line stocks in Europe are fun­da­men­tally un­der­val­ued. He ad­vised clients that Lufthansa and Air France are the two of the weak­est air­lines in terms of their cap­i­tal base. How­ever, he be­lieves that all the pub­lic Euro­pean air­lines are un­der­val­ued on fun­da­men­tals so he is pos­i­tive on the whole sec­tor.

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