Increasing Assa Abloy's FVE to SEK 173 per Share on the Back of Acquisitions
We are increasing our fair value estimate for Assa Abloy to SEK 173 from SEK 166 per share, adjusting for the time value of money and for recent acquisitions. Since the beginning of the year, Assa Abloy has made six acquisitions, spending just under SEK 1 billion by our estimates. The number of acquisitions is in line with the trend of the previous two decades of six to seven per year. This year, we forecast acquisitions to contribute about 300 basis points of our 700 basis points of revenue gro...ASSA ABLOY provides a range of door opening solutions. Co. is organized into five divisions. Europe, Middle East and Africa division, Americas (North and South America) division and Asia Pacific (Asia, Australia and New Zealand) division manufacture and sell mechanical and electromechanical locks, security doors and hardware in their respective geographical markets. Global Technologies division operates worldwide in the product areas of access control systems, secure card issuance, identification technology and hotel locks. Entrance Systems division is a global supplier of entrance automation products and service.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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