Morningstar - Sasol Limited (103M) No Material Changes to Sasolâ€™s Fair Value Estimate; Stock Remains in 3-Star Territory

Report

Morningstar

Joe Gemino

EUR 100.00 For Business Accounts Only

No Material Changes to Sasolâ€™s Fair Value Estimate; Stock Remains in 3-Star Territory

After taking a fresh look at Sasolâ€™s first half fiscal year 2019 results, we are lowering our fair value estimate to $31 (ZAR 442) from $32 (CAD 444) based on movements in foreign exchange rates. Despite the slightly lower fair value estimate, Sasol remains in 3-star territory. Shares have declined nearly 25% since August and are now trading near our fair value estimate. While Sasol has an extensive near-term growth portfolio and favorable cost structure, we believe the market finally realized t...

12/03/2019 11 EN

Underlying

Sasol Limited

Sasol is engaged in manufacturing and marketing of liquid fuels, gas and chemicals. Co. adds value to coal, oil and gas reserves, using these feedstocks to produce liquid fuels, fuel components and chemicals. Co. mines coal and refines imported crude oil and retails liquid fuel products in South Africa, and produces gas and condensate in Mozambique and oil in Gabon. Co. also supplies fuels to oil companies in South Africa and others in South Africa and sub-Saharan Africa. Co. maintains its chemical manufacturing and marketing operations worldwide. Co. divides its operations into three focused business clusters: South African Energy Cluster, International Energy Cluster and Chemical Cluster.

See profile

ZAE000006896 Johannesburg Stock Exchange South Africa

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

See profile

Analysts

Joe Gemino

Other Reports on these Companies

ING Financial Markets

EM Credit Spark/Trade ideas update

Spreads in EM credit markets have generally continued to grind tighter in recent weeks. Valuations across the universe are looking stretched, although over the summer months there remains a lack of likely catalysts for a sell-off. We would prefer to be fairly defensively positioned, with expectations for a likely uptick in issuance in September along with some risks on the macro front if expectations shift more definitively towards further rate hikes or significant recession concerns resurface.

EUR 92.89

July 27, 2023 July 27, 2023 1 EN

ING Financial Markets

EM Credit Spark/EM credit weekly and trade ideas update: South Africa, Eskom, Bulgaria, MOL, SASOL, NEPI Rockcastle, Turk Telekom

EM credit spreads were more volatile this week as US rates continued to grind higher. We expect further volatility as more issuance enters the EM pipeline, while uncertainty over the macro outlook continues in developed markets.

EUR 92.89

February 24, 2023 February 24, 2023 1 EN

TheScreener

SASOL sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of SASOL (ZA), a company active in the Integrated Oil & Gas industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date January 14, 2022, the closing price was ZAR 287.39 and its potential was estimated at ZAR 325.89.

Free Trial

January 15, 2022 January 15, 2022 1 EN

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Contract manufacturer Lonza reported solid half-year results, with over CHF 2.9 billion in total sales year to date, up about 6.4% from last year and boosted by foreign exchange tailwinds. Core EBITDA margin expanded 30 basis points from last year to about 27.8%, helped slightly by new accounting standards. Management indicated that it continues to expect mid- to high-single-digit sales growth in 2019. We are maintaining our fair value estimate of CHF 210 per share and our no-moat rating. The ph...

EUR 100.00

July 25, 2019 July 25, 2019 13 EN

Joe Gemino

Joe Gemino

Sasol Provides Full-Year Production Update

No-moat Sasol provided an update on its full-year fiscal 2019 production metrics that included relatively stable liquids production. For the full year ended June 30, Sasol produced 1,470 thousand barrels of crude oil and condensate a day compared with 1,469 mboe/d in the year-ago period. However, declines continued with the companyâ€™s natural gas production, down 4% to 130.3 billion cubic feet compared with the period ended June 30, 2018. Sasol also reported flat refined products of 31.4 mmboe/d ...

EUR 100.00

July 25, 2019 July 25, 2019 12 EN

Joe Gemino

Joe Gemino

Sasol Provides Full-Year Production Update

EUR 100.00

July 25, 2019 July 25, 2019 12 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

No Material Changes to Sasolâ€™s Fair Value Estimate; Stock Remains in 3-Star Territory

EM Credit Spark/Trade ideas update

EM Credit Spark/EM credit weekly and trade ideas update: South Africa, Eskom, Bulgaria, MOL, SASOL, NEPI Rockcastle, Turk Telekom

SASOL sees an upgrade to Slightly Positive due to a better fundamental star rating

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Sasol Provides Full-Year Production Update

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe