Daily Stock Pick
WATCH: Stock picks — Norwegian Finans and American Tower
Only on Business Day TV Channel 412
Jean Pierre Verster from Fairtree Capital chose Norwegian Finans Holding (94 Norwegian krone/unchanged), as his stock pick of the day. The company is listed in Norway and, though its subsidiary, Bank Norwegian, it offers various financial services products, including a credit card. The operation is entirely online, with less than 100 employees. People from this region tend to be good at repaying their debt, making the bank’s bad debt ratio very low. Verster says he “quite likes” this company. Gary Booysens from Rand Swiss chose American Tower, which is listed as a real estate investment trust (Reit) on the New York Stock Exchange. The company buys tiny little parcels of land all over the US and the rest of the world and then puts up cellphone towers. The company owns the tower and different network providers “plug in”. Even if American Tower manages to get only one network provider, they break even, if it gets two, the company makes a decent margin.
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