WATCH: Stock Picks — Tencent and Anglo American
Alex Duys from Umthombo Wealth chose Tencent as his stock pick of the day and Joseph Busha from JM Busha Investments Group chose Anglo American
Alex Duys from Umthombo Wealth chose Tencent as his stock pick of the day and Joseph Busha from JM Busha Investments Group chose Anglo American.
Duys said: “Tencent is reporting their quarter three results on November 13 and looking at the share price relative to the sentiment or their results, we are expecting it to be relatively weaker than usual. I think there will be positive developments specifically on the mobile gaming side and a consolidation of Supercell. This will remind the investors that gaming is still growing aggressively for Tencent. At the same time, you have your fin-tech, which is as strong as ever and I think this is a good buying opportunity.”
Busha said: “Anglo American thinks that they are going to have a cash cow in copper outside of SA. The momentum has certainly excited investors. I think there's a bit of momentum for for them in the next three to possibly six months. It could still touch R400 so we've got our target price.”
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