Market Wrap - Stock Pick — Aspen
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Robert Cameron from Thebe Stockbroking chose Aspen Pharmacare Holdings as his stock pick of the day.
"My stock pick is Aspen but I want to qualify that, so this is not for investors that are risk-averse. If you are willing to take a bit of a risk, I think Aspen at around R70 per share does present some value. It also took a hit on the NHI announcement but if that spills over we can see a rally back to R90-R95. Their results will be on the 12th of September and we are hoping that the worst of this company is behind them now. Their debt is still high but it has pulled back a bit. Alan Grey also made an announcement on Thursday that they bought 5% of the company and they are the iconic value investors in South Africa and let's hope that they are right."
"My stock pick is Aspen but I want to qualify that, so this is not for investors that are risk-averse. If you are willing to take a bit of a risk, I think Aspen at around R70 per share does present some value. It also took a hit on the NHI announcement but if that spills over we can see a rally back to R90-R95. Their results will be on the 12th of September and we are hoping that the worst of this company is behind them now. Their debt is still high but it has pulled back a bit. Alan Grey also made an announcement on Thursday that they bought 5% of the company and they are the iconic value investors in South Africa and let's hope that they are right."
