WATCH: Stock picks — Shoprite and Astral
Nick Kunze from Sanlam Private Wealth and Joseph Busha from JM Busha Investments talk to Business Day TV
Nick Kunze from Sanlam Private Wealth chose Shoprite as his stock pick of the day and Joseph Busha from JM Busha Investments chose Astral Foods.
Kunze said: “So, we like Shoprite, it closed at about R115 and some change and is almost back at a 52-week low. Not that we necessarily think that the SA consumer is flying back, but, if we’re going to be in the space, we tend to like the food retailers.”
Busha said: “Astral foods has done fantastically, I think from the price-momentum perspective, but if you look in terms of last numbers they were down about 55%. The main contributor or drive of their performance certainly is their feedstock and if we’re going to have problems with maize.”
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