Stock Watch
WATCH: Stock picks — L Brands and Ringkjøbing Landbobank
Devin Schutte from The Robert Group chose L Brands as his stock pick of the day and Jean Pierre Verster from Fairtree Capital chose Ringkjøbing Landbobank. Schutte said that L Brands shares have come under significant pressure recently. “The share price has moved lower quite dramatically. This might be due to the increased demand for online shopping. Despite that it’s a good business, with massive margins, but management is looking to take a haircut on those margins and increase into more growing regions like China, where they have started to see some nice uptake.” Ringkjøbing Landbobank, a regional bank with a R2bn market cap, is listed in Denmark. Verster said: “They also recently took over another bank which has increased their footprint in Jutland. This comes with a lot of cost savings and they are very diversified on the non-interest side.”
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