Report
Jeffrey Vonk
EUR 101.80 For Business Accounts Only

Following Painful Rights Issue, Review of Cobham’s Portfolio Breadth Is Key; Shares Overvalued

After successful completion of a GBP 500 million rights issue in May to address high financial leverage, we look ahead to Cobham’s interim announcement, scheduled for August 3. We believe this announcement should provide additional information following a management review of the breadth of the portfolio and improved financial controls. Cobham offers a wide range of technologies and services focused on small niches across commercial, defence, and security markets, with dominant positions in aeri...
Underlying
Cobham plc

Cobham provides technologies and services across its defense, aerospace and space markets. Co. has four sectors: Communications and Connectivity, which provides equipment and solutions to enable connectivity across a range of environments in aerospace, avionics, satellite and radio, wireless and mobile connectivity markets; Mission Systems, which provides safety and survival systems, aerial refueling systems and wing-tip to wing-tip mission systems; Advanced Electronic Solutions, which provides solutions for communication on land, sea, in the air and in space through off-the-shelf and customized products; and Aviation Services, which provides outsourced aviation services.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Jeffrey Vonk

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