Gerbrand Smit from NeFG Fund Management chose Mediclinic as his stock pick of the day and Chantal Marx from FNB Wealth and Investments chose Woolworths. Smit said: “I’m going with Mediclinic, they were at R220 a share but had some perfect storms with regulatory issues in the Middle East and Switzerland. “If you look at the latest set of numbers that they said they are going to deliver and you look at normalisation of those earnings, you are sitting close to an 11 price-earnings multiple at R61 a share, where it is now, so to buy a quality hospital group, whose margins were under pressure, and you can actually expand it over time, I think just makes sense.” Marx said: “David Jones was a massive disappointment for Woolworths and they got it really wrong in ladies fashion in SA. They seem to have, anecdotally, gotten the ladies fashion story right, their stores look a bit busier, their trading densities have improved and they are looking to recover off a low base in Australia.”
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