Market Wrap - Stock pick — Aspen
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Nick Kunze from Sanlam Private Wealth chose Aspen as his stock pick of the day.
We've been sticking with Aspen, it's been on the front pages for all the right reasons for a change. It's nice to see them getting a really good vote of confidence from Johnson & Johnson a global giant of pharmaceuticals. We like the fact that their debt's been played down and we like to fact that the rand is at R15.50 to the dollar and as opposed to R17/R18 a few months ago. Certainly a tailwind to their earnings and given all the positive press we're seeing around them, we are expect the stock to go higher in the near term.
We've been sticking with Aspen, it's been on the front pages for all the right reasons for a change. It's nice to see them getting a really good vote of confidence from Johnson & Johnson a global giant of pharmaceuticals. We like the fact that their debt's been played down and we like to fact that the rand is at R15.50 to the dollar and as opposed to R17/R18 a few months ago. Certainly a tailwind to their earnings and given all the positive press we're seeing around them, we are expect the stock to go higher in the near term.
