WATCH: Stock picks — Shoprite and Absa
Nick Crail from Ashburton Investments and Graeme Körner from Körner Perspective talk to Business Day TV
Nick Crail from Ashburton Investments chose Shoprite as his stock pick of the day and Graeme Körner from Körner Perspective chose Absa.
Crail said: “Shoprite, yes, I think it comes down to the quality nature [of] the market share, the dominance of a particular company within a certain sector. I think if you have a look at SA Inc as a whole, the momentum is truly against SA Inc shares ... [so] while the sentiment remains as bearish and continues being bearish, you’re going to watch all of them take a bit of a beating.”
Körner said: “Out of the banks in my mind, Absa is looking the cheapest, I think a lot of people feel that they are in Sleepy Hollow because they have been sitting without a permanent CEO for quite a while, they now have that.”
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