The fund manager's stock pick — which has already risen by 100% over the past six months — is seen soaring another 50% over the next 12 to 18 months.
Oil services company Weatherford International is a ripe takeover target, according to Alexander Roepers, founder and chief investment officer at Atlantic Investment, who said the stock is set to soar. Roepers, who has previously made a string of accurate bets predicting successful mergers and acquisitions, believes that Weatherford will soon be acquired by a company such as Schlumberger or Halliburton . It comes after a tricky few years for Texas-headquartered Weatherford.
line The stock picker , who runs a concentrated fund with only a handful of stocks, explained that Weatherford's adjusted profit margin is now near Schlumberger 's, an industry leader. Yet, the company's shares were trading at "a significant discount". This undervaluation helps to make it a ripe takeover target, according to Roepers. Atlantic Investment bought into the stock when it was priced at $58 a share last year. The stock has risen around 110% since.
line Atlantic Investment ultimately sold its position, as they believed the company's value was between 450 and 500 pence. When asked about his approach to selling stocks, Roepers emphasized the importance of discipline. "We're always a little early buying in, and I'm always a little early selling out. And that's the discipline that you got to maintain. You can't just buy and hold," he said. "Because bulls make money, bears make money, and pigs get slaughtered.
Schlumberger NV Halliburton Co International Paper Co Rheinmetall AG Rheinmetall AG Smurfit Kappa Group PLC Smurfit Kappa Group PLC DS Smith PLC Mondi PLC Business News
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