Prosegur Is Our Pick of the Security Sector; G4S and Securitas Currently Fairly Valued
We are initiating coverage on three names in the security services space: U.K.-listed G4S, Sweden-listed Securitas, and Spain-listed Prosegur. These names represent three of the five largest firms globally in the sector. While we believe both G4S and Securitas are currently fairly valued (fair value estimates of GBX 312 and EUR 142, respectively), narrow moat Prosegur is our pick of the sector with a fair value estimate of EUR 7.10, implying close to 30% upside from the prevailing share price.W...
G4S is a security company that provides security and related services. Co.'s Secure Solutions products are comprised mainly of manned security and facilities management services, and its Cash Solutions products are comprised mainly of physical cash management services. Within the Secure Solutions services, Co. also provides: technology services, comprising the supply, installation and monitoring of alarm systems, and security and building systems technology; facilities management; and care and justice services. Within the Cash Solutions services, Co. also provides technology services to retailers, comprising hardware and software for customer cash management and related services.
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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