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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• Local Data: Unemployment (Quarterly) (26/03); Financial Statistics (Quarterly), PPI, Interest Rates (28/03)
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