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Buy SuperGroup as it bottoms out

by , 26 March 2019
Buy SuperGroup as it bottoms out
SuperGroup's share price has returned to where it was at the beginning of 2015, and has been stuck in a range between R45 and R33.

It has bottomed out around R33, half year results put its NAV at just below R29 growing at 16% (CAGR) over the past four years.

Earnings have increased by 9% (CAGR) and expectation is for that to continue. It's on a forward PE of just 8.5 while its five-year average stands at 10.8.
 
 
So it’s currently trading at a 27% discount!
 
A twelve-month target price of R42.50 implies 26.8% upside, with downside risk underpinned by the R28.90 NAV.
 
Buy SPG below R33.50 with a target of R42.50 
 
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The week ahead:  
 
Local Data: Unemployment (Quarterly) (26/03); Financial Statistics (Quarterly), PPI, Interest Rates (28/03)
 
Results Due: MDI, ECS, ATL, JBL (26/03); ACG, APH (27/03); TBS, YRK, CPI (28/03); JSC, TLM, GEM, AHL, UCP, WEZ, CND, ELB, PMH, PEM (29/03)
 
Ex Div (26/03): ATT, CLR, FFA, FFB, GND, GNDP, IMRP4, MMI. MRF, MSM, MTN, OMU, SCD, SUR, TEX, TPF
 
 
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Buy SuperGroup as it bottoms out
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