Peet Serfontein & Zimele Mbanjwa
We initiate a long position with a target price of R51 and recommend a stop-loss at R40.
WeBuyCars Holdings Limited is a South African company specialising in the acquisition, reconditioning, and sale of pre-owned vehicles. The group operates an integrated model that combines nationwide physical supermarkets with a proprietary digital platform to deliver a seamless, omni-channel customer experience.
The company also provides a broad suite of value-added services, including finance facilitation, insurance solutions and fitment products. The business trades from around 18 supermarkets and 106 buying pods across the country, supported by expanding infrastructure and data-driven capabilities that enhance convenience, scale and customer accessibility.
An AI-driven multi-horizon price forecasting framework also supports a bullish bias as its expected price path trends higher across horizons (see the larger insert on the main chart). The model's forecast and widening upper band indicate improving return potential, while the lower band defines risk if key support levels fail.
The price is trading above its 200-day simple moving average (SMA) of ~ R51.33. The start of upside price momentum, according to the Moving Average Convergence Divergence (MACD) histogram, and the recent upwards trajectory according to the On-balance volume (OBV), support our bullish view.
Buy/Sell Rationale:
Technical Analysis:
Fundamental view:
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Share Information
Share Code
WBC
Industry
Consumer Discretionary Distribution
Market Capital (ZAR)
17.99 billion
One Year Total Return
-4.81%
Return Year-to-Date
-9.97%
Current Price (ZAR)
43.06
52 Week High (ZAR)
60.85
52 Week Low (ZAR)
32.26
Financial Year End
September
The share price has eased so far this year; however, technical indicators are currently
pointing to an uplift in the near term.
Consensus Expectations (Bloomberg)
FY25
FY26E
FY27E
FY28E
Headline Earnings per Share (ZAR)
2.25
2.62
3.23
3.75
Growth (%)
16.65
23.40
15.93
Dividend Per Share (ZAR)
0.00
0.82
1.00
0.82
Growth (%)
-
21.95
-18.00
Forward PE (times)
16.44
13.32
11.49
Forward Dividend Yield (%)
1.90
2.32
1.90
Current market forecasts are pricing in near- to medium-term earnings growth in the double digits.
Share Name and Position
Entry
Current Price
Movement
Comment
Time to exit
VAL SA - Buy
(Continue to hold)1 479.42
1 525.23
+3.1%
Strong historical upside skew and recovery momentum remain supportive,
with the price holding above its 200-day simple moving average. However,
fading upside momentum tempers conviction. The profit target is maintained
at R1 822, with a stop-loss at R1 330 and trailing stop at R1 447.
25 May 2026
AVI SA - Buy
(Continue to hold)111.12
114.42
+3.0%
Relative-performance positioning keeps the share attractive. It remains
above its 200-day SMA, with upside momentum supporting the trade thesis.
We retain a R125.00 target, with a trailing stop-loss at R112.
22 June 2026
BTI SA - Buy
(Continue to hold)944.40
992.59
+5.1%
A developing bullish pennant remains constructive, with the price holding
above its 200-day SMA. However, emerging downside momentum warrants caution.
We retain a R1 042 target, and a trailing stop at R967.
6 April 2026
MTM SA - Buy
(Continue to hold)36.80
39.28
+6.7%
The established pattern of rising troughs and successive upward impulses
remains constructive, with the price holding above its 200-day SMA.
Upside momentum resumed. We maintain a R42 target, and a trailing stop-loss
at R38.30.
22 June 2026
Share Name and Position
Entry
Current Price
Movement
Comment
Time to exit
SLM SA - Buy
(Continue to hold)94.83
106.22
+12%
Note pending time to exit. Based on its historical pattern of strong
follow-through after recovery years and the improving return profile into
2025, the probability of continued upside in 2026 remains of interest.
The share is holding above its 200-day SMA, supported by the resumption
of upside price momentum. Our target is R110, and the trailing stop loss
is R103.
24 February 2026
