Five industry experts have selected five companies and Exchange-Traded Funds as part of FNB Wealth and Investments’ top stock picks for 2023 – Mondi, Shoprite, Bidcorp, Glencore, and Balwin Properties.
She added that, locally, the growth outlook had been tempered by continued and intensifying load shedding, which will undoubtedly impact company profitability and balance sheets – depending on whether they become self-reliant. While disappointing relative to carrying value, these assets have been priced at zero by the market, and therefore, any cash accruing to the company will be viewed as positive. There is also a likelihood that this cash could be returned to shareholders as dividends, Marx added.
“The development and successful implementation of Checkers Sixty60 shows innovation and agility to changing market dynamics and execution success. The sustained growth of Checkers Sixty60 and the on-demand grocery delivery app has allowed the group to monetise digital and alternate revenue stream opportunities,” said Bopela.
According to Makan, the group has a well-diversified client base and businesses across developed and emerging geographies at different life cycles. Bidcorp is not overly exposed to any specific client or category, boasting healthy diversification across the portfolio. According to Bhoolia, Glencore has a well-diversified commodity mix, including iron ore, coal, copper, zinc, nickel, and cobalt.