On Tuesday (5 November), Naspers closed R7.53 down to R926.47 on the local exchange, giving the group a market cap of R385 billion. Naspers reached a high of R980 towards the end of last month.
Gilmour was speaking on CNBC Africa.
“We’ve got a target price of R1,300 on this one,” he said of the group’s ability to break through R1,000.
“It’s in sight, and way beyond. While the Chinese miracle persists, while it gets well into its third phase, I think this one (Naspers) has a wonderful, enviable position.”
He said all social media companies are bound to get a lift when Twitter lists on 15 November. “Tencent gets a lift, and then as a consequence, Naspers gets a lift.”
Naspers has a 35% shareholding in the Asian Internet company.
He said that, when looking at the content announced by potential rivals OpenView, “I was profoundly disappointed, and I thought, well, they could have done better than that”.
OpenView launched last month as a free to air satellite TV offering by Platco Digital, a subsidiary of Sabido Investments, the media company which also owns e.tv.
OpenView launched with an initial line-up of 16 channels, and requires users to only buy a decoder and satellite dish for a once-off amount of about R1,599 (dependent on retailer).
“What it shows you is, even in relatively small contributors, compared with Tencent, these guys (Naspers) dominate in such a way, it’s unbelievable…I think this is a wonderful success story,” Gilmour said.
“In Naspers as well, you have all the Brazilian assets, you’ve got Turkey, Eastern Europe, Russia, all these other countries where they basically have the dominant position in e-commerce, and in e-connectivity, and search,” Theron said.
He added that if e-commerce continues to grow as is anticipated, “they’ve got all these strategic properties that will be very attractive to the global giants”.