(Bloomberg) — Sasol Ltd.’s shares, down more than 80% in 2020, are trading as if the market expects years of bad news around oil and that the South African fuel and chemicals giant will struggle to escape its balance sheet constraints.Old Mutual Investment Group doesn’t share that pessimism, said Meryl Pick, a money manager who helps oversee the firm’s 10 billion rand ($533 million) Investors Fund.“Our view is that the market is pricing Sasol as if the prevailing oil prices are going to continue for the next three to five years, and are pricing in that the balance sheet constraints …read more
Source:: Yahoo Finance
