Nesan Nair from Sasfin chose FirstRand as his stock pick of the day and Gerbrand Smit from NEFG chose Mediclinic. Nair said the current market climate is all about value, which is what FirstRand offers. “[It is a] very resilient and conservatively run banking operation and their management team far superseded the rest of the sector, they know how to trade in the current market and if we receive some good news on Wednesday from the finance minister, that will put us back on a solid growth path. FirstRand will certainly be one of the big beneficiaries of that.” Smit said Mediclinic is not a bad business and the stock is trading at half the earnings it usually does. “They have a beaten-down share of around two thirds of their value lost. It’s a good time to buy this share, as Mediclinic has quality assets and hospitals in general are a good business long term wise.”
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