Update note on 750 cent target made. Where to now for Grindrod?
I've covered Grindrod for over 20-years
I've had a standing buy on the stock since November 2020 at 350 cents and again in November 2021 at 531 cents, both had a target value of 750 cents
Recently on the back of asset sales of Grindrod Bank and the prospects for third party rail, Grindrod ran to a high of 950 cents and is today back at 889 cents.
With the stock having exceeded my target I enclose a link below to my recent 9-page institutional client note on Grindrod updating my narrative and opinion on the stock as well as my target price.
New Grindord target is 1150 cents