JSE listed shares: broker ratings and price targets

In this article we take a look at JSE listed shares, long term price targets and broker ratings.

Source: Bloomberg

Written by: Shaun Murison | Senior Market Analyst, Johannesburg

Publication date: 2021-12-15T15:36:10+0000

JSE listed shares: price targets and broker ratings

The below consensus broker ratings and price targets are sourced from Refinitiv data as of the 15th of December 2021.

Resource counters

Company	LT Broker Rating	LT Target Price	Share Price	Discount/Premium to Target
AngloGold	HOLD	322.48	311.15	-3.51%
Gold Fields	BUY	166.25	163.03	-1.94%
Harmony	HOLD	56.86	59.75	5.09%
DRD Gold	HOLD	12.00	13.87	15.58%
Pan African Resources	BUY	27.67	16.16	-41.59%
Amplats	HOLD	1670.59	1,801.00	7.81%
Impala Plats	BUY	291.63	216.48	-25.77%
Northam Platinum	BUY	278.00	202.97	-26.99%
Sibanye Stillwater	BUY	80.90	49.54	-38.76%
African Rainbow Minerals	BUY	259.16	219.26	-15.40%
Anglo American PLC	HOLD	672.31	620.63	-7.69%
BHP Group	BUY	493.48	462.72	-6.23%
Kumba Iron Ore	SELL	419.17	469.57	12.02%
Exxaro Resources	BUY	200.71	153.53	-23.51%

The above table suggests that miners Pan African Resources, Sibanye Stillwater, Northam Platinum and Impala Platinum trade at the widest discounts to long term price targets.

Harmony Gold, DRD Gold and Anglo American Platinum (Amplats) and Kumba Iron Ore trade at premiums to long term price targets.

Industrial Counters

Company	LT Broker Rating	LT Target Price	Share Price	Discount/Premium to Target
Aspen Pharmacare	BUY	249.00	221.35	-11.10%
Bid Corp	BUY	348.75	312.52	-10.39%
Bidvest	BUY	225.50	180.28	-20.05%
Mondi Group	BUY	21.22	18.13	-14.56%
Multichoice Group	BUY	141.00	124.64	-11.60%
Naspers	BUY	4241.15	2513.25	-40.74%
Prosus (JSE)	STRONG BUY	1913.00	1,269.00	-33.66%
Remgro	BUY	160.00	125.95	-21.28%
Richemont	BUY	229.42	240.47	4.81%
Sasol	BUY	290.70	256.86	-11.64%

The above table suggests that shares Naspers, Prosus, Remgro and Bidvest currently trade at the widest discounts to long term price targets.

Prosus is the only share on the list to carry a ‘strong buy’ recommendation.

The outperformance in Richemont over 2021 has pushed the price above the suggested longer term fair value, although the share continues to carry a ‘buy’ recommendation.

Retail Industrial Counters

Company	LT Broker Rating	LT Target Price	Share Price	Discount/Premium to Target
Clicks Group	BUY	306.00	300.98	-1.64%
Dischem Pharmacy	HOLD	34.50	34.40	-0.29%
Foschini Ltd	BUY	162.43	121.95	-24.92%
Mr Price	BUY	228.43	200.70	-12.14%
Truworths	BUY	58.11	51.55	-11.30%
Woolworths	HOLD	59.29	51.91	-12.44%
Shoprite	BUY	195.63	207.04	5.84%
Pick n Pay	BUY	66.71	53.11	-20.39%
Spar Group	BUY	210.25	164.45	-21.78%

The above table suggests that Foschini, Spar and Pick n Pay currently trade at the widest discounts to a perceived longer term fair value.

Shoprite is the only share on the list to currently trade at a premium to its long term consensus target price.

Telecommunications counters

Company	LT Average Broker Rating	LT Target Price	Share Price	Discount/Premium to Target
Vodacom	HOLD	148.6	132.49	-10.84%
Telkom	BUY	52.1	49.09	-5.78%
MTN	BUY	147.66	169.72	14.94%

MTN currently trades at a premium to a long term price target consensus, although continues to carry a ‘buy’ rating from analysts.

Financial counters

Company	LT Broker Rating	LT Target Price	Share Price	Discount/Premium to Target
ABSA Group	BUY	171.33	145.94	-14.82%
Capitec Holdings	HOLD	1744.89	1,931.20	10.68%
Firstrand Ltd	HOLD	65.50	57.18	-12.70%
Nedbank Ltd	BUY	200.75	166.23	-17.20%
Standard Bank	BUY	157.40	131.94	-16.18%
Growthpoint	BUY	15.37	14.31	-6.88%
Old Mutual Group	BUY	17.33	11.84	-31.69%
Sanlam	BUY	77.67	56.60	-27.12%

Insurers Old Mutual Group and Sanlam currently trade at the broadest discount to a consensus of analyst long term price targets.

Capitec Holdings is currently the only share trading at a premium to a median of analyst price target estimates.

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