Investec Stock Recommendations and Price Targets

This is a list of recent ratings by Investec.

Date	Company Name	Action	Current Price	Price Target	Rating
10/28/2025	PKPYY Pick n Pay Stores	Upgrade	$8.00		Hold ➝ Buy
10/10/2025	GFI Gold Fields	Downgrade	$42.00		Buy ➝ Hold
10/10/2025	HMY Harmony Gold Mining	Upgrade	$19.00		Hold
9/19/2025	FANDF FirstRand	Upgrade	$5.00		Hold ➝ Buy
9/19/2025	SGBLY Standard Bank Group	Upgrade	$16.00		Sell ➝ Buy
9/4/2025	WHTPF WH Smith	Downgrade	$9.00		Hold
9/3/2025	SRGHY Shoprite	Upgrade	$16.00		Buy
9/3/2025	DMPZF Domino's Pizza Group	Downgrade	$2.00		Buy ➝ Hold
7/28/2025	GMVHF Entain	Downgrade	$10.00		Hold
6/24/2025	DIALF Dialight	Upgrade	$3.00		Buy
6/12/2025	FANDF FirstRand	Downgrade	$5.00		Buy ➝ Hold
5/5/2025	BPPPF BID	Downgrade	$24.00		Hold
4/18/2025	INFY American Noble Gas	Upgrade	$18.00		Sell ➝ Buy
3/5/2025	IBJHF Ibstock	Upgrade	$2.00		Buy
10/30/2024	BME B&M European Value Retail	Set Price Target	166.00	495.00	Hold
10/18/2024	SBSW Sibanye Gold	Downgrade	$12.00		Buy ➝ Hold
10/18/2024	GFI Gold Fields	Upgrade	$42.00		Hold ➝ Buy
10/18/2024	AU AngloGold Ashanti	Upgrade	$83.00		Hold ➝ Buy
10/3/2024	WIT Wipro	Downgrade	$3.00		Hold ➝ Sell
10/3/2024	INFY American Noble Gas	Downgrade	$18.00		Hold ➝ Sell
10/9/2023	IMPUY Impala Platinum	Downgrade	$13.00		Hold ➝ Sell
10/9/2023	AFBOF African Rainbow Minerals	Upgrade	$11.00		Hold ➝ Buy
10/9/2023	AGPPF Anglo American Platinum	Upgrade	$69.00		Sell ➝ Hold
10/6/2023	PKPYY Pick n Pay Stores	Downgrade	$8.00		Hold ➝ Sell
10/6/2023	FHNGY The Foschini Group	Downgrade	$5.00		Hold ➝ Sell
10/6/2023	MRPLY Mr Price Group	Downgrade	$13.00		Hold ➝ Sell
9/29/2023	SGPPF The SPAR Group	Upgrade	$6.00		Hold ➝ Buy
9/26/2023	KGFHY Kingfisher	Upgrade	$8.00		Hold ➝ Buy
9/20/2023	FANDF FirstRand	Upgrade	$5.00		Sell ➝ Hold
9/20/2023	SGBLY Standard Bank Group	Upgrade	$16.00		Sell ➝ Hold
9/15/2023	EKDHF EKF Diagnostics	Downgrade	$0.00		Buy ➝ Hold
9/14/2023	ASBFY Associated British Foods	Upgrade	$28.00		Hold
9/12/2023	TCEHY Tencent	Upgrade	$78.00		Sell ➝ Hold
9/5/2023	IFPJF Informa	Downgrade	$13.00		Buy ➝ Hold
9/5/2023	RELX Relx	Upgrade	$41.00		Hold ➝ Buy
9/5/2023	INF Informa	Downgrade	GBX 941	GBX 775	Hold
9/5/2023	REL Relx	Upgrade	GBX 3,035	GBX 2,850	Buy
9/1/2023	TRWKF Truworths International	Downgrade	$4.00		Hold ➝ Sell
8/25/2023	EXXAF Exxaro Resources	Upgrade	$10.00		Hold ➝ Buy
8/24/2023	PYPTF Paypoint	Upgrade	$7.00		Hold ➝ Buy
8/8/2023	HLN Haleon	Upgrade	$10.00		Sell ➝ Hold
6/29/2023	TSNLF Tristel	Upgrade	$5.00		Hold ➝ Buy
6/29/2023	DLUEY De La Rue	Upgrade	$5.00		Hold ➝ Buy
6/15/2023	STRNY Severn Trent	Upgrade	$38.00		Buy
6/15/2023	TSNLF Tristel	Downgrade	$5.00		Buy ➝ Hold
5/26/2023	MNSKY Moneysupermarket.com Group	Upgrade	$11.00		Hold ➝ Buy
5/15/2023	ELXXF Elixirr International	Initiated Coverage	$11.00		Buy
4/20/2023	IHPGF IntegraFin	Upgrade	$3.00		Hold ➝ Buy
4/17/2023	TRWKF Truworths International	Downgrade	$4.00		Buy ➝ Hold
4/17/2023	FHNGY The Foschini Group	Downgrade	$5.00		Buy ➝ Hold
4/17/2023	SGPPF The SPAR Group	Downgrade	$6.00		Buy ➝ Hold
4/17/2023	MRPLY Mr Price Group	Downgrade	$13.00		Buy
4/17/2023	HMY Harmony Gold Mining	Downgrade	$19.00		Buy ➝ Hold
4/17/2023	GFI Gold Fields	Downgrade	$42.00		Buy ➝ Hold
4/17/2023	AU AngloGold Ashanti	Downgrade	$83.00		Buy ➝ Sell
4/14/2023	MHTUF The Merchants Trust	Upgrade	$7.00		Hold ➝ Buy
4/11/2023	STRNY Severn Trent	Downgrade	$38.00		Buy
4/4/2023	TNGRF Thungela Resources	Downgrade	$5.00		Buy ➝ Sell
4/4/2023	EXXAF Exxaro Resources	Downgrade	$10.00		Buy ➝ Hold
4/4/2023	ANGPY Anglo American Platinum	Upgrade	$12.00		Sell ➝ Buy
4/4/2023	KIROY Kumba Iron Ore	Upgrade	$7.00		Sell ➝ Buy
4/4/2023	HMY Harmony Gold Mining	Upgrade	$19.00		Hold ➝ Buy
3/23/2023	TRWKF Truworths International	Upgrade	$4.00		Hold ➝ Buy
3/23/2023	WLWHY Woolworths	Upgrade	$4.00		Hold
3/23/2023	PKPYY Pick n Pay Stores	Upgrade	$8.00		Hold ➝ Buy
3/23/2023	FHNGY The Foschini Group	Upgrade	$5.00		Hold ➝ Buy
3/23/2023	SGPPF The SPAR Group	Upgrade	$6.00		Hold ➝ Buy
3/23/2023	MRPLY Mr Price Group	Upgrade	$13.00		Hold ➝ Buy
3/17/2023	RITPF RIT Capital Partners	Downgrade	$28.00		Hold ➝ Sell
2/23/2023	HLN Haleon	Initiated Coverage	$10.00		Sell
2/17/2023	DNLMY Dunelm Group	Upgrade	$15.00		Hold ➝ Buy
2/14/2023	RTBBF Rathbones Group	Downgrade	$26.00		Buy ➝ Hold
2/14/2023	RAT Rathbones Group	Downgrade	GBX 1,846	GBX 2,195	Hold
2/10/2023	SCBFF Standard Chartered	Downgrade	$22.00		Buy ➝ Hold
2/6/2023	SECCF Serco Group	Initiated Coverage	$4.00		Buy
2/3/2023	SCBFF Standard Chartered	Upgrade	$22.00		Hold ➝ Buy
2/1/2023	DSITF Currys	Upgrade	$2.00		Hold ➝ Buy
1/31/2023	DEO Diageo	Upgrade	$89.00		Hold ➝ Buy
1/31/2023	DGE Diageo	Upgrade	GBX 1,682	GBX 3,900	Buy
1/13/2023	ANGPY Anglo American Platinum	Downgrade	$12.00		Buy ➝ Sell
1/13/2023	KIROY Kumba Iron Ore	Downgrade	$7.00		Buy ➝ Sell
1/13/2023	AU AngloGold Ashanti	Upgrade	$83.00		Sell ➝ Buy
1/10/2023	PROSY Prosus	Downgrade	$12.00		Buy ➝ Hold
1/10/2023	NXGPF NEXT	Downgrade	$188.00		Buy ➝ Hold
1/6/2023	GBGPF GB Group	Upgrade	$3.00		Hold ➝ Buy
1/6/2023	SCBFF Standard Chartered	Downgrade	$22.00		Buy ➝ Hold
12/19/2022	DSITF Currys	Downgrade	$2.00		Buy ➝ Hold
12/15/2022	PNXGF Phoenix Group	Upgrade	$9.00		Hold ➝ Buy
12/15/2022	AVVIY Aviva	Downgrade	$17.00		Buy ➝ Hold
12/14/2022	MBPFF Mitchells & Butlers	Initiated Coverage	$3.00		Hold
12/7/2022	PSMMY Persimmon	Downgrade	$36.00		Buy ➝ Hold
12/5/2022	RITPF RIT Capital Partners	Downgrade	$28.00		Buy ➝ Hold