Steinhoff International Rated `Overweight' in New Morgan Stanley Coverage

Steinhoff International Holdings Ltd., Africa’s largest furniture maker, was rated “overweight” in new coverage at RMB Morgan Stanley.

“Steinhoff enjoys a competitive advantage over smaller competitors given its vertically integrated business model, integrated logistics, scale advantages and alignment of strong partners,” RMB Morgan Stanley analysts Danie Pretorius and Qaqambile Dwayi said in a note to clients today.

To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net

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