Report
Denise Molina
EUR 101.80 For Business Accounts Only

Smiths Group is well positioned as a leading player in niche markets.

We have adjusted our forecasts to reflect a modest recovery in energy equipment spend, as well as a series of divestitures that Smiths Group has announced as part of its business review. Our fair value estimate for the local shares increases to GBX 1710 from GBX 1650 and remains unchanged for the ADR, due to British pound weakness. We view the shares as attractively valued, and our narrow moat rating remains unchanged.
Several European capital equipment manufacturers, including Atlas Copco, Alf...
Underlying
Smiths Group Plc

Smiths Group is a global technology company. Co. is organized into five divisions: John Crane, which provides mechanical seals, seal support systems, engineered bearings and power transmission couplings; Smiths Medical, which provides infusion systems and vascular access products; Smiths Detection, which provides sensors and systems that detect and identify explosives narcotics, weapons, chemical agents, biohazards and contraband; Smiths Interconnect, which provides electronic and radio frequency board-level and waveguide devices; and Flex-Tek, which provides engineered components flexible hosing and tubing that heat and move fluids and gases.

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
Denise Molina

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