WATCH: Stock Picks — Spotify and BAT
Deryck Janse van Rensburg from Anchor Capital and Gerbrand Smit from NeFG Fund Management talk to Business Day TV
Deryck Janse van Rensburg from Anchor Capital chose Spotify Technology as his stock pick of the day and Gerbrand Smit from NeFG Fund Management chose British American Tobacco (BAT).
Janse van Rensburg said: “I’m going with Spotify overseas, this is obviously a media-based music streaming platform. I think that the service they offer has been sort of subpriced and it’s really to gain market penetration.”
Smit said: “British American Tobacco is at a 10 PE [price-earnings] multiple, you [are] externalising money almost always with BAT. They have about 100% of their earnings coming offshore, not that it’s listed offshore, but it’s an offshore currency play.”
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