WATCH: Stock picks — Shoprite and Reinet
Wayne McCurrie from FNB Wealth & Investments chose Shoprite as his stock pick of the day and Rowan Williams from Nitrogen Fund Managers chose Reinet.
McCurrie said: “I’ll go for an SA retailer and pick Shoprite. It’s looking cheap, the economy’s at the bottom, it can turn around. Things can’t get any worse, so they’ll get better.”
Williams said: “We like Reinet, it does have a large exposure to British American Tobacco but that has reduced significantly from what it was, it is a bull diversify portfolio some exposure to PensCorp and the private equity assets. It looks like they are getting the portfolio in order, as well cleaning it up, doing share buybacks, doing the right things.”
Wayne McCurrie from FNB Wealth & Investments and Rowan Williams from Nitrogen Fund Managers talk to Business Day TV
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