Sandvik AB
SAND: XSTO (SWE)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
SEK 576.00 | Wtrrz | Rrxzrpg |
Demand for Mining Equipment Drives Second-Quarter Order Growth for Sandvik; Shares Are Fairly Valued
Narrow-moat Sandvik has benefited from a recovery in global industrial production and high commodity prices, which has favored its short and long-cycle businesses. Second-quarter organic sales growth of 22% and 11% year to date is tracking in line with our full-year expectations and thus we maintain our SEK 193 fair value estimate. Shares are currently fairly valued.