Deryck Janse van Rensburg from Anchor Securities chose Walt Disney as his stock pick of the day, but Greg Katzenellenbogen from Sanlam Private Wealth says he cannot find anything that is worthwhile. Janse van Rensburg says people consume TV content in a different way. “Looking at Disney’s content and the valuation that they are trading on at the moment, they are sitting on some key crown jewels. They have the ESPN sports component and the recent announcement of the Fox acquisition, although it still needs to play out and the deal needs to be sealed…. This is a business that is sitting at a very fair multiple and looking forward if they can roll out and execute what they are trying to implement this is a great buying opportunity.” Katzenellenbogen says he can find nothing that would make someone money in the next six months if they bought it. “We have not seen the effect of what is happening with low volume in the global markets at the moment, the whole of Europe is on holiday and th...
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