Atlas Copco (Buy, TP: SEK288.00) - Vacuum key for share price
We reiterate our BUY recommendation and have raised our target price to SEK288 (280) ahead of the Q3 results (due at 12:00 CET on 19 October). We expect still-good momentum in order intake from attractive end markets as well as structural growth drivers. In Q3, semiconductor companies Samsung, Intel and Micron have announced plans to increase capex. We see a solid balance sheet, and that M&A and extraordinary dividends could be share price catalysts.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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