📊 Ratings Tracker

Both view ADvTECH as a premium education business with structural demand tailwinds. Ghost noted excellent growth in the education sector; TT sees 16% NEPS growth and 18% dividend increase as confirmation.

Both share a NEUTRAL view on Aveng.

Both are bullish on Altron's transformation into a platform business. Ghost's Ghost Stories deep-dive called it a "multi-platform, multi-decade moat"; TT agrees the voluntary operational update — Platforms now 95% of operating profit from 45% of revenue, EBITDA up low-to-mid teens, net cash balance sheet — is the inflection point the thesis needed.

Both see Bidcorp as a world-class foodservice compounder. Ghost has repeatedly noted Bidcorp growing into its valuation and its constant-currency revenue and trading profit growth; TT agrees the FY26 print — 6.8% HEPS growth, 118% EBITDA-to-cash conversion and a 6.9% dividend hike — confirms the quality.

Both are cautious but constructive on Blu Label's de-risking. Ghost has tracked the Cell C restructure through the volatility; TT agrees the separate listing de-risks the group and that the resumption of dividends plus a buyback is a genuine inflection — though the reported R4.88bn loss keeps both NEUTRAL rather than bullish.

Both are BULLISH on Bidvest as a quality diversified industrial. Ghost has highlighted the CEO transition and portfolio rationalisation as positive catalysts; TT agrees the FY2026 print — R130.3bn revenue, 8% trading profit growth, R12.5bn free cash flow (+27%), and ROFE of 38.6% — confirms Bidvest is a compounding machine at a reasonable price.

Both like Dipula's retail-focused property strategy. Ghost highlighted the township retail tilt; TT sees the R2.04bn Moolman acquisition as earnings-accretive and strategically sound.

Both see the Westcon value crystallisation as a major win. Ghost noted the special dividend crystallises value; TT agrees the R7.05bn return validates the sum-of-parts thesis.

Both like Fairvest's positioning. Ghost highlighted 12.3% distribution growth per B share in June and noted the dual-share structure working; TT agrees the S&P zaAAA credit rating and inaugural R500m-R750m bond issuance are the funding-market validation of Fairvest's rural retail property dominance.

Both are bullish on the gold-price tailwind and Gold Fields' cash generation. Ghost flagged doubled free cash flow in the interim period; TT sees the 81% profit jump, the more-than-doubled dividend (1,625c vs 700c) and the lifted US$1.25bn returns programme confirming the thesis.

Both are bullish on Jubilee's copper pivot. Ghost highlighted the Molefe Mine as key to the mine-to-metals copper strategy; TT agrees the US$35m Large Waste Project disposal at a premium funds the integrated copper mining build-out.

Both see Metair's restructuring finally paying off. Ghost noted the restructuring efforts are "taking hold" and the strategic reset is "substantially complete"; TT agrees the EPS swing from a 93c loss to a 72c profit and the +R188.6m operating cash flow flip confirm the turnaround.

Both see MTN as undervalued with strong earnings momentum. Ghost flagged the IHS catalyst and macro tailwinds; TT agrees that adjusted HEPS growth of 21.3% and the R6bn buyback confirm the bullish thesis.

Both are firmly bearish on Mantengu's distress. Ghost has tracked the mining micro-cap's long decline; TT sees the withdrawn audit opinion, the reported irregularity and the R58.3m disputed deferred tax asset as confirmation that the governance risk is real and unresolved.

Both are BULLISH on Nedbank. Ghost called the H1 2026 results "focused execution and growth"; TT agrees the Central Bank of Kenya approval for the c.66% NCBA acquisition is the pivotal regulatory milestone that transforms Nedbank's East Africa story from ambition to reality.

Both see Northam as a quality PGM operator with a premium UG2 basket. Ghost highlighted production and cost discipline; TT sees the unsolicited approach and strategic competitive process as the catalyst that crystallises the takeout value in a consolidating sector.

Both are NEUTRAL on Old Mutual — acknowledging strong operational delivery (Life APE sales +21%, VNB +32%) while noting the adjusted HEPS decline from investment-return headwinds. Ghost covered Old Mutual's secondary listing migration neutrally earlier in August; TT agrees the 8 September interims are the real test — operational strength may be overshadowed by mark-to-market noise.

Both rate OUTsurance as a best-in-class insurer. Ghost has repeatedly praised the underwriting discipline and called the earlier results "blockbuster"; TT agrees the 21–26% HEPS guidance, the 40%+ surge in SA short-term profit and the 37% ROE confirm the compounding quality.

Both are firmly BEARISH on RCL Foods. Ghost warned in the 18 Aug Ghost Bites that the trading statement "is a continuation of where the difficult interim period left off"; TT agrees the FY2026 numbers — HEPS -32.8%, Sugar drowning in imports, Pet Food crushed by a Salmonella recall — confirm this is structural pain, not a one-off.

Both recognise Sabvest as a quality compounder with disciplined capital allocation. Ghost highlighted the track record of value creation; TT notes the Frogfoot/Vox/Hypa investment at sensible prices extends the thesis.

Both like Spear REIT's Western Cape retail execution. Ghost noted the REIT "locking in a tidy return" on its property deals; TT agrees the Watergate Centre acquisition at an accretive 8.37% initial yield — with upside still outside DIPS guidance — is clean, sensible growth.

Both share a BULLISH view on Shoprite.