Shoprite (SHP) Further Update. I discussed the share on Monday as well as on Friday 25 August, with my comments centering around the fundamental valuation and technical positioning. I also published my view on this platform last week Monday 28 August (see attached post). At 23x earnings (p/e ratio) and a 9% increase in headline earnings per share, the mismatch of fundamental rating (expensive) and (tepid) growth saw the share down by over 6% at one point yesterday. Today, we are seeing further weakness with the share now below R240.
For more research insights, including trade ideas, get in touch today.
For more research insights, including trade ideas, get in touch today.
