Mark du Toit from Courtney Capital Private Wealth chose Reinet Investments as his stock pick of the day and Gary Booysen from Rand Swiss chose Sasol. Du Toit said that the troubles British American Tobacco (BAT) is experiencing in the US offers “a trade opportunity”. BAT is Reinet’s biggest investment. “The stock is completely oversold at these levels. You get the upside opportunity and the re-rating of BAT but at the same time Reinet is really been working on closing the discount to the assets. They announced that they will be buying back shares, so there is a good chance that the discounts will go even lower and at the same time you might get BAT going up which is a ‘double whammy’,” said Du Toit. Booysen said Sasol trades “on the back of the oil price so if we do see an increase in the oil price it will filter through. With a weakening currency combined with the Brent oil price at $60 a barrel, the Sasol stock is going to fly.”
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