HSBC analyst Christopher Johnen upgraded Naspers to Buy from Hold with a price target of ZAR 4,100, up from ZAR 3,600. The analyst says the unwinding of the cross-holding structure “is an important step to simplify the investment case.” It increases credibility on plan execution, as the first step of the “show me” story on simplification and value crystallization, the analyst tells investors in a research note.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>