Stock Watch
WATCH: Stock Picks — Alphabet and Coronation
Bright Khumalo from Vestact chose Alphabet (GOOGL)/$1280.95 (+0.40%) as his stock pick of the day, and Ashraf Mohamed from Arqaam Capital chose Coronation Fund Managers (CML)/R59.15 (-0.35%)
Bright Khumalo from Vestact chose Alphabet (GOOGL) as his stock pick of the day. Recent bad news for the company was a fine for the alleged abuse of the android app, as it comes pre-loaded with all google-related apps favouring Google products and google search. But this means all the antitrust and regulatory issues have already happened, and looking at the valuation, it is a very strong set of numbers notwithstanding the fine, Khumalo said. It is also the cheapest that it has ever been since listing this business, on a price-earnings basis. Ashraf Mohamed from Arqaam Capital chose Coronation Fund Managers as his stock pick of the day. Coronation has a R20bn market cap with just more than R600bn in assets. The stock has been fairly stationary at that level for the past two-and-a-half years. Some institutional assets, which are lower-margin assets, have exited, and the fact that Coronation has taken action to correct its margins should reflect in its next set of results, Mohamed s...
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