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...
Prosegur, Compania de Seguridad and its subsidiaries are engaged in the provision of security guards and related services; fund transport and handling through a fleet of armored vehicles; alarm and electronic security systems; distribution and auxiliary services, including storage, logistics and distribution services; document transport and courier services; cleaning services and temporary employment. Co. is also engaged in security consulting and external training.
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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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