GO
Loading...

STOCKS NEWS AFRICA-FirstRand extends gains on Credit Suisse upgrade

Wednesday, 10 Oct 2012 | 5:22 AM ET

STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 0913GMT 10Oct12 - FirstRand extends gains on Credit Suisse upgrade ------------------------------------------------------------------

Shares of FirstRand Ltd rise for a second session, adding 1.4 percent to 26.35 rand after Credit Suisse lifts its rating on South Africa's second-largest lender to "outperform" from "neutral", citing the quality and visibility of earnings growth, an attractive valuation and its growth strategy.

Credit Suisse, which says FirstRand is its preferred pick among large South African banks, also raised its price target for the stock to 32.60 rand from 29.70 rand.

Reuters Messaging: david.dolan.thomsonreuters.com@reuters.net

Keywords: MARKETS AFRICA STOCKSNEWS

  Price   Change %Change
CSGN
---