We're raising our ThyssenKrupp fair value estimate on cost synergies of deal with Tata Steel.
We are increasing our fair value estimate for ThyssenKrupp to EUR 26 from EUR 23 after adjusting for the time value of money, updating our pension funds estimates, and increasing other estimates. We have updated our model to reflect increased demand for ThyssenKrupp’s components technology, driven by growth in light vehicles and material services (higher auto-related material volumes and higher prices). We maintain our no-moat rating for the firm. As a result of recent share price gains, fueled ...ThyssenKrupp is the parent company of the ThyssenKrupp Group. Co. has six business areas: Components Technology, which provides components for the automotive and machinery sectors; Elevator Technology, which supplies passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts; Industrial Solutions, which comprises the System Engineering and Marine Systems units; Materials Services, which focuses on materials distribution and technical services; Steel Europe, which develops, produces and markets flat carbon steel in the European market; and Steel Americas, which produces, processes and markets steel products in North and South America.
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