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Oceana benefits from rating

August 7 2012 at 01:08pm
By Reuters

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CorporateBusiness

Shares of Oceana Group jump over 5 percent to 51 rand after Credit Suisse starts the fish and cold storage services company with an “outperform rating”.

Credit Suisse sees growth potential for Oceana's core business - canned fish - on strong demand for affordable protein backed by rising incomes at the lower end of the population.

Oceana is the maker of the popular “Lucky Star” brand of tinned tuna.

The brokerage has set a target price of 55.50 rand and expects a 4.8 percent dividend yield. - Reuters


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