WATCH: Stock picks — LabCorp and Old Mutual
Ricus Reeders from PSG Wealth Sandton and Deryck Janse van Rensburg from Anchor Securities talk to Business Day TV
Ricus Reeders from PSG Wealth Sandton chose Laboratory Corporation of America Holdings (LabCorp) as his stock pick of the day and Deryck Janse van Rensburg from Anchor Securities chose Old Mutual.
Reeders said: “My stock is a US stock called LabCorp, they are basically medical laboratories and they are one of the big players in the US, if not the biggest. They were under pressure and have recovered somewhat, sitting at a forward price-earnings ratio of 13 times, which doesn’t make them expensive.”