WATCH: Stock pick — Sasol
Steven Schultz from Momentum chose Sasol as his stock pick of the day.
“So, my stock pick is Sasol, I know it’s a strange one, given last week’s sell-off. The sell-off came on the new discovery announcement and that their capex (capital expenditure) would be increasing by about $1bn on the Lake Charles project, which is now only 86% complete, but should be coming online in a couple of months. It does create a bit of discomfort in their debt profile for the next 18-24 months. At R55 per share it is a great opportunity to buy now as management did mention they are going to dispose of noncore assets to the value of $2bn.”
Steven Schultz from Momentum talks to Business Day TV about his stock pick of the day
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