Atlas Copco AB Series A

Atlas Copco provides industrial productivity products and services. Co.'s operations are divided into four business areas: Compressor Technique (provides compressors, vacuum solutions, gas and process compressors and expanders, air and gas treatment equipment and air management systems), Industrial Technique (provides power tools, assembly systems, quality assurance products, software and service through a global network), Mining and Rock Excavation Technique (provides equipment for drilling and rock excavation), and Construction Technique (provides construction and demolition tools, portable compressors, pumps and generators, lighting towers, and compaction and paving equipment).
  • TickerATCO A
  • ISINSE0011166610
  • ExchangeNasdaq Nordic Stockholm
  • SectorIndustrial Engineering
  • CountrySweden
Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner - June 2020

While China is approaching normality, Europe and North America will be grim in Q2, and the severity of the demand drop is less important than what companies can do to safeguard cash flow and the balance sheet. We advise sticking with companies with low funding risk and end-markets which are not permanently damaged. We continue to see relative attraction in mining equipment. Our key long ideas are: Sandvik, Volvo, Metso, Electrolux. We are cautious on: Cargotec, Konecranes, Wärtsilä.

Anders Idborg ...
  • Olof Cederholm

Atlas Copco - CEO call: in control

CEO/CFO sell-side call Cost and mix appear under control, estimates OK The quality is there – price (rightly) high

Anders Idborg ...
  • André Thormann
  • Derek Laliberté
  • Jan Erik Gjerland
  • Jannick Lindegaard Denholt
  • Jesper Birch-Jensen
  • Martin Kaland
  • Petter Nystrøm
  • Stefan Knutsson

Talking Points - Bang & Olufsen (Sell): Only when the tide goes out…

Atlas Copco (Hold) Company event: China close to normalised DKK 400m rights issue secured We still see major risk - SELL

Anders Idborg ...
  • Olof Cederholm

Atlas Copco - China close to normalised

Call with China head confirms normalisation Few threats to strong position in China At 18x EBITA it is not cheap, but holders can relax

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner - May 2020

While China is approaching normality, Europe and North America will be grim in Q2, and the severity of the demand drop is less important than what companies can do to safeguard cash flow and the balance sheet. We advise sticking with companies with low funding risk – if things normalise there will be upside also in the more stable names. Our key long ideas are: Sandvik, Volvo, Metso, Electrolux We are cautious on: Cargotec, Konecranes, Wärtsilä

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global equities consolidating We remain constructive on global equities as the MSCI ACWI, ACWI ex-U.S., and EAFE indexes consolidate above their respective 200-day moving averages. On the other hand, the MSCI EM index is breaking below its 200-day moving average and is flirting with a breakdown below 56,000 support (local currency). Weakness within EM raises concerns that global equities may also succumb to weakness... see charts below. • Global equities consolidating. We take a look at the big picture, providing overviews on broad MSCI indexes (ACWI, ACWI ex-U.S., and EAFE)... see page 2. ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Developed Markets Leadership Chart Book

Europe in focus The U.S. dollar continues to grind marginally higher, and EM equities have suffered as a result. Meanwhile, RS for the MSCI EAFE index is bottoming when compared to the MSCI EM index, largely due to outperformance in Europe. With developed int'l markets beginning to outperform emerging markets, we recommend adding exposure to the developed int'l space. Below we highlight attractive and actionable themes within developed int'l: • Europe & Japan: Though this is an all-encompassing bottoms-up chart book for developed ex-U.S., make no mistake, the vast majority of today's buy rec...

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner - June 2020

While China is approaching normality, Europe and North America will be grim in Q2, and the severity of the demand drop is less important than what companies can do to safeguard cash flow and the balance sheet. We advise sticking with companies with low funding risk and end-markets which are not permanently damaged. We continue to see relative attraction in mining equipment. Our key long ideas are: Sandvik, Volvo, Metso, Electrolux. We are cautious on: Cargotec, Konecranes, Wärtsilä.

Anders Idborg ...
  • Olof Cederholm

Atlas Copco - CEO call: in control

CEO/CFO sell-side call Cost and mix appear under control, estimates OK The quality is there – price (rightly) high

Anders Idborg ...
  • André Thormann
  • Derek Laliberté
  • Jan Erik Gjerland
  • Jannick Lindegaard Denholt
  • Jesper Birch-Jensen
  • Martin Kaland
  • Petter Nystrøm
  • Stefan Knutsson

Talking Points - Bang & Olufsen (Sell): Only when the tide goes out…

Atlas Copco (Hold) Company event: China close to normalised DKK 400m rights issue secured We still see major risk - SELL

Anders Idborg ...
  • Olof Cederholm

Atlas Copco - China close to normalised

Call with China head confirms normalisation Few threats to strong position in China At 18x EBITA it is not cheap, but holders can relax

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner - May 2020

While China is approaching normality, Europe and North America will be grim in Q2, and the severity of the demand drop is less important than what companies can do to safeguard cash flow and the balance sheet. We advise sticking with companies with low funding risk – if things normalise there will be upside also in the more stable names. Our key long ideas are: Sandvik, Volvo, Metso, Electrolux We are cautious on: Cargotec, Konecranes, Wärtsilä

An unfavourable environment weighs on ATLAS COPCO AB, which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of ATLAS COPCO AB (SE), active in the Industrial Machinery industry. As regards its fundamental valuation, the title still shows 0 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date February 25, 2020, the closing price was SEK 337.50 and its target price was estimated at SEK 316.92.

Expert Corporate Governance Service (ECGS)

Atlas Copco – AGM 23 April 2020

In general, Atlas Copco is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting.   Under ITEM 10a, approval is sought for the (re-)election of the board of directors. In light of insufficient independent representation and gender diversity on the board of directors, as well as concerns over the aggregate time commitments of various directors, ECGS recommends to OPPOSE.   Under ITEM 10b, the nomination committee proposes to re-appoint Mr. Hans Straberg as the Chairman of the board of directors. ECGS has various concerns over hi...

Expert Corporate Governance Service (ECGS)

Atlas Copco - AGM 25 April 2019

In general, Atlas Copco is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 10a, approval is sought for the (re-)election of the board of directors. In light of insufficient independent representation on the board of directors as well as concerns over the aggregate time commitments of no less than 4 directors, ECGS recommends to vote OPPOSE. Under ITEM 10b, the nomination committee proposes to re-appoint Mr. Hans Straberg as the Chairman of the board of directors. ECGS has various concerns over his re-appointment...

Atlas Copco AB – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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