Market Wrap - Stock picks — Afrimat and offshore
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Sam Mokorosi from Vunani Capital chose Afrimat as his stock pick of the day and David Shapiro from Sasfin Securities chose to look offshore.
Mokorosi said: Afrimat has been on our radar, we like the way that they've been making smart acquisitions at the bottom of the cycle and if you look at the iron-ore price as well, it is looking good. Brazil's is unfortunately showing some of the highest death numbers for Covid so that means that their production is going to be limited for a while in terms of iron ore. Looking at the opposite end of the globe we can see Chinese growth as they are coming back into market and so that's helping raise prices which is good news for Afrimat."
Shapiro said: "I'm going to continue to look offshore, I'm just staggered by the amount of data that is being used, I continue to push the themes of health and data on and going into those companies like Salesforce, their results were out on Thursday evening, very good results. They did go out lower on what lies ahead but what they do is they actually have data on the cloud and they teach companies how to use it, how to program it and so on. I think one should continue to look to those kinds of business."
Mokorosi said: Afrimat has been on our radar, we like the way that they've been making smart acquisitions at the bottom of the cycle and if you look at the iron-ore price as well, it is looking good. Brazil's is unfortunately showing some of the highest death numbers for Covid so that means that their production is going to be limited for a while in terms of iron ore. Looking at the opposite end of the globe we can see Chinese growth as they are coming back into market and so that's helping raise prices which is good news for Afrimat."
Shapiro said: "I'm going to continue to look offshore, I'm just staggered by the amount of data that is being used, I continue to push the themes of health and data on and going into those companies like Salesforce, their results were out on Thursday evening, very good results. They did go out lower on what lies ahead but what they do is they actually have data on the cloud and they teach companies how to use it, how to program it and so on. I think one should continue to look to those kinds of business."
