Bank of America Sees Good FY14 Result Priced In for Sasol Limited

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In a report published Monday, Bank of America analyst Avishkar Nagaser reiterated an Underperform rating and $55.00 price target on
Sasol LimitedSSL
. In the report, Bank of America noted, “Sasol (SOL) reported FY14 results, with HEPS at the midpoint of guidance, below our and consensus pre-trading statement forecasts. Cash generation during the period was strong, with the balance sheet remaining ungeared. FID on the cracker is still expected by the end of CY14. Total dividend for FY14 was ZAR21.50, slightly lower than our forecast of ZAR22.50 – final dividend of ZAR13.50. We continue to believe that these results are well reflected in the share price and premium valuation. SOL is trading on a FY15E PE of 10x and dividend yield of 3.7%.” Sasol Limited closed on Friday at $59.73.
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Posted In: Analyst ColorReiterationAnalyst RatingsAvishkar NagaserBank of America
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