WATCH: Stock picks — Capitec and Aspen
Nesan Nair from Sasfin Securities day and Graeme Körner from Körner Perspective talk to Business Day TV
Nesan Nair from Sasfin Securities chose Capitec as his stock pick of the day and Graeme Körner from Körner Perspective chose Aspen.
Nair said: “We all know the condition that banks find themselves in, all of them have had to mark down profit substantially because of higher impairments, in other words, higher provisions for future losses, and Capitec was no different. But Capitec has levers and the last few result sessions you’ve actually been seeing this insurance income coming through.”
Körner said: “I’m going for Aspen, their debt is manageable and under control. When I looked at their results we projected a year ago what we thought this business could do and they delivered. Not only have they attacked the debt but I think also there’s a new energy and there's a clinical approach to the business.”
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