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Sasol Bundle
Oil & Gas Producers - 4 July 2019

Sasol, despite short-term volatility in the share price, should continue to be considered as a core portfolio holding for South African investors. The company has the capacity to remain a good dividend payer for the foreseeable future, earning an above average yield.

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Amber light on Imperial
Industrial Transportation - 3 July 2019

Imperial Logistics, listed in the Industrial Transportation sector, is forecast to underperform for the foreseeable future. Is there potential for recovery or not? What is the financial situation of the company and should we have any concerns? After a 30% fall in the share price year... Read More

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Saham Boost
Life Insurance - 25 June 2019

Ingham Analytics succinctly sets out the pros and cons of being invested in Sanlam. A positive to earnings this financial year is the acquisition of the remaining 53.7% of Saham whilst agreements concluded with Capitec in 2018 will further assist volumes. By investing in Sanlam,... Read More

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Bouncing back
Oil & Gas Producers - 6 June 2019

In our "Louisiana Blues" note dated 24 May, we advised that the market reaction to the news there would be a $1 billion cost overrun on the Lake Charles Chemical Project in the United States was excessively negative. We concluded that for traders and longer run... Read More

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Banking, Earnings drivers subdued
Banks - 4 June 2019

We have updated our estimates and valuations for the big four banks. The banks are not particularly pricey by historical metrics and do offer value to a greater or lesser extent, with FirstRand retaining a premium rating, ABSA the least expensive and Standard and Nedbank making... Read More

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Louisiana Blues
Oil & Gas Producers - 24 May 2019

The enormous Lake Charles Chemical Project in the United States is almost five years in the making, over budget and behind schedule. Revised estimates mean the final cost of close to $13 billion, assuming this is the final cost, would be 45% higher than in 2014... Read More

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Politics-proofing your portfolio - Part 2
Mining - 22 May 2019

Prior to 8 May, we observed that the general and provincial elections could be a harbinger of continued socio-economic decay or possible hesitant recuperation. Or worse. Hesitant recuperation my get a chance following the outcome, with the ANC retaining a diminished majority. Nevertheless, it is prudent... Read More

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On the pricey side
Mining - 16 May 2019

BHP continues to focus on maximising cash flow and keeping capital discipline, which will be positive for long term shareholders. Strong iron ore prices, helped by supply disruption, are supportive of earnings. The share has had positive momentum year-to-date but has retreated from recent elevated levels... Read More

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Politics-proofing your portfolio - Part 1
Mining - 7 May 2019

The general and provincial elections on 8 May could be a harbinger of continued socio-economic decay or possible hesitant recuperation. Or worse. Regardless of the outcome, it is prudent to keep hedging your bets and have a good proportion of SA politics-proof stocks

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Deferred compensation
General Retailers - 29 April 2019

The subject of the deferred shares is contentious but there is merit in the proposed transaction to acquire and cancel Shoprite deferred shares together with an issue to new ordinary shares

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