Mergence rates Standard Bank a screaming buy

Mergence rates Standard Bank a screaming buy

2021-11-28 09:01:00 PM

Mergence rates Standard Bank a screaming buy

Asset manager says share price could rally 30% over the next 24 months as Liberty deal kicks in

Garth TheunissenMergence Investment Managers is calling Standard Bank a screaming buy on the basis that its share price could rally 30% over the next two years as the integration of Liberty and a reorganisation of its business unlock new growth opportunities.

The Cape Town-based asset manager says while Standard Bank’s share price has not recovered as strongly as other banks from 2020’s pandemic-induced mayhem, that makes it an attractive investment given its long-term growth potential. Nevertheless, Mergence cautions that Standard Bank will need to deliver on its recently announced shake-up of its internal operations, something that may require an inevitable cut in staff numbers...

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