Starting in Pitt Street, Sydney in 1872, and listing on what was then the Sydney Stock Exchange on 21 January 1903, Washington H. Soul Pattinson and Co. Ltd (SOL) has become a large shareholder in companies involved in building materials, mining, property investment and telecommunications.
“Washington H. Soul Pattinson and Co. Ltd (SOL) released its 1H23 result, which in our view highlighted the resilient performance of its investment portfolio in what was arguably a more challenging market environment,” Raymond said.
“The key contributions from its core strategic holdings and its large cap portfolio helped grow SOL’s net cash from investments to approximately $247 million. A fully-franked 1H23 interim dividend was declared.
“Our derived price target is $30.65 (previously $29.60).
“With approximately 10% upside to our price target, we maintain our ADD recommendation,” Raymond said.
Washington H. Soul Pattinson and Co. Ltd (SOL)
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