After a few years which Tiger Brands would surely like to forget, it seems like the both the company results and share price, have found quite a strong support. Fundamentally the company is sound, with both PE’s and Price/Books trading at 5-year lows. After recent results, it seems like the growth (ROE) in the company has also made a turn for the better (above 8% again). Debt levels are also still extremely low. The lingering listeriosis Class Action lawsuit could be a risk, but Tiger Brands informed shareholders that it intends to defend the Class Action.
Technically the company look very interesting. Price is trading above the flattening 50-day moving average, with main resistance level currently laying at top of the diagonal resistance line (at R217). A break and close above R217, brings September 2019 levels of R227.50 into play, with the 200-day moving average at R242.20 being next resistance level. These levels coincide very nicely with our target price (fundamentally) of R250 on the company. Download and read our full report (for free) here: http://oldoak.co.za/wp/index.php/2019/10/18/get-to-know-your-jse-companies-tiger-brands-ltd-jse-tbs/
Technically the company look very interesting. Price is trading above the flattening 50-day moving average, with main resistance level currently laying at top of the diagonal resistance line (at R217). A break and close above R217, brings September 2019 levels of R227.50 into play, with the 200-day moving average at R242.20 being next resistance level. These levels coincide very nicely with our target price (fundamentally) of R250 on the company. Download and read our full report (for free) here: http://oldoak.co.za/wp/index.php/2019/10/18/get-to-know-your-jse-companies-tiger-brands-ltd-jse-tbs/
Trade active:
Perfect break. First target (R227.50) reached. Approaching my second target (R250)