Oceana Group Limited : There is still some upside potential
Entry price | Target | Stop-loss | Potential |
---|
ZAR 69.32 |
ZAR 80 |
ZAR 58 |
+15.41% |
---|
Oceana Group Limited shares show a positive technical situation which suggests a continuation of the upward dynamic over the medium term.
Strengths● There is high visibility into the group's activities for the coming years. Outlooks on future revenues from analysts covering the equity remain similar. Such hardly dispersed estimates support highly predictable sales for the current and upcoming fiscal years.
● Its low valuation, with P/E ratio at 11.03 and 9.99 for the ongoing fiscal year and 2021 respectively, makes the stock pretty attractive with regard to earnings multiples.
● For the last week, the earnings per share forecast has been revised upwards. According to recent estimates, analysts give a positive overview of the stock
● Analysts covering this company mostly recommend stock overweighting or purchase.
Weaknesses● Stock prices approach a strong long-term resistance in weekly data at ZAR 70.7.
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