Trade Idea: FirstRand
FirstRand, a leading financial services provider, boasts a strong, diversified portfolio of businesses. The group’s diversification strategies should support growth over the longer term, with cross-selling opportunities in the distribution of FNB, despite the muted economic environment.
Trading at a forward P/E ratio of below 12 times and 2.8 times its NAV, we feel a quality premium is reflected in the share price, trading at a substantial premium to other domestic banks.
Click here to download the presentation slides as a PDF.
Presented by equity analyst, William Eatwell.
