Sekgabo Molelekoa from Umthombo Wealth chose Italtile as her stock pick of the day and Ricus Reeders from PSG Wealth chose Fedex. Italtile’s deal with Ceramic has been concluded now they have the full value chain from manufacturing all the way to retail. “They have also down-traded in terms of the offering with Top T and aggressively targeting the lower LSM. On a free cash flow basis, they are really fantastic as they have returned around 80% of free cash flow to shareholders in the past five years and it’s not going to slow down any time soon," said Molelekoa. Fedex in the US is releasing its quarterly results on Monday. “The American market is fearful at the moment due to FedEx’s CEO resigning a few months ago and it was not expected. That really knocked the FedEx share price on the assumption that there must be something wrong as this was quite unusual. There is fear that the results will not be that good on Monday, but if there is any surprise on the upside, that fear will dissi...
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