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Country:
South Africa
Capital:
Pretoria
Currency:
rand (ZAR)
Riedel Research Coverage by Region
South Africa

Recent Reports

Aspen - Strong Growth in Asia Boosts South African Generic Pharma Co - BUY - Archived 1/10/2013
We initiate coverage of Aspen Pharmacare the largest generics manufacturer of the Southern Hemisphere, with a Buy.  Aspen has strong positions in diverse markets.
Vodacom - African Cellular Operator Faces Competition in SA - Overpriced - SELL - Archived 7/26/2012
We initiate coverage of Vodacom, the leading cellular operator in South Africa, with a SELL recommendation.
Shoprite - South African Retailer Raises Capital for Growth - Overvalued - SELL - Archived 7/11/2012
We initiate coverage of Shoprite with a SELL recommendation.  Shoprite is Africa’s largest food retailer with a footprint in 16 African countries.
LHC - $2.6 bn Mkt Cap Hospital Operator Provides High Quality Healthcare Exposure to Growth in Africa - BUY - Archived 8/29/2011
Initiation of coverage on Life Healthcare Group "Life" a leading private hospital operator in South Africa, with a Buy recommendation.
MTN - High-Quality Exposure to African Growth - BUY - Archived 6/10/2010
MTN is the Africa's largest mobile network service provider.  Shares have underperformed recently as a result of market misunderstanding of the company.  We believe this is set to change - BUY
RAINBOW CHICKEN - INITIATION OF COVERAGE - BUY - Archived 1/28/2010
We are initiating coverage of Rainbow Chicken, with a BUY recommendation and a target price derived from DCF of 1,809c which represents a 15% upside.  We are a bit cautious near-term as the company will release its Q4 2009 earnings on May 28 2010; at that time we would like to see a growth in earnings for FY10 as we have seen volatility the previous two financial periods.  

ANGLOGOLD ASHANTI - DIVERSE GLOBAL PORTFOLIO OF GOLD MINING PROJECTS - GOOD LONG-TERM PROSPECTS - HOLD - Archived 5/11/2009
With high quality assets, a large reserve base, and a realignment of assets outside South Africa, AngloGold Ashanti has good long-term prospects.

GOLD FIELDS LIMITED - HIGH QUALITY ASSETS AND A LARGE RESERVE BASE - HOLD - Archived 5/1/2009
Gold Fields has a diverse portfolio of gold development projects spread across South Africa, Ghana, Australia, & Peru. A 40 percent reduction in capital expenditures in FY 2009 from FY 2008 to a steady state of capex of $180 million should benefit margins.
MERAFE RESOURCES (MRF) – DEMAND OUTPACING SUPPLY – BUY - Archived 5/27/2008
MERAFE RESOURCES (MRF) – DEMAND OUTPACING SUPPLY – BUY
PPC – RAINFALL AND CEMENT SALES – BUY - Archived 5/5/2008
PPC – RAINFALL AND CEMENT SALES – BUY
STEFANUTTI & BRESSAN – LAYING THE FOUNDATION FOR GROWTH – BUY - Archived 4/11/2008
STEFANUTTI & BRESSAN – LAYING THE FOUNDATION FOR GROWTH – BUY

Coverage

Anglogold Ashanti (AU) Add to my Watch List
Aspen Pharmacare Holdings Ltd (APNJ.J) Add to my Watch List
Gold Fields Limited (GFI) Add to my Watch List
Life Healthcare Group (LHC) Add to my Watch List
Merafe Resources (MRF) Add to my Watch List
MTN (MTNJ.J) Add to my Watch List
Murray & Roberts (MURJ.J) Add to my Watch List
Pretoria Portland Cement Company Limited (PPC.SJ) Add to my Watch List
Rainbow Chicken (RBWJ.J) Add to my Watch List
Shoprite Holdings Ltd (SHPJ.J) Add to my Watch List
Stefanutti & Bressan (SFB.SJ) Add to my Watch List
Vodacom Group Ltd (VODJ.J) Add to my Watch List