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Sanlam (SLM ZA)

SUMMARY | Position: LONG | Upside target: 24.50 | Reward / risk ratio: – | Recommended stop-loss: R20.50 | RECOMMENDATION: BUY

Sanlam is a leading financial services group in South Africa with a footprint across the African continent. The group has provided financial solutions to individual and institutional clients for over 100 years.

Sanlam is highly regarded from a qualitative perspective, with the group being well-diversified from a geographic and product standpoint. Sanlam boasts a strong balance sheet with more-than-adequate reserves.

On a technical basis, a price that remains above key support makes for an attractive investment option. It is however important to note that the price remains in a downward trending channel, indicating …

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