ATLKY - The Market's Love Affair With Atlas Copco Risks Lower Long-Term Returns
- Atlas Copco could see a more modest industrial-driven recovery in 2021 than its peers, with stronger comps in Compression and weaker end-market demand in Industrial.
- Vacuum should remain a hot property, as fabs continue to add capacity and vacuum is increasingly important to leading-edge processes.
- Additional M&A seems likely, with management likely to add more automation-enabling technology in Industrial.
- Atlas Copco trades well beyond valuation norms for high-quality industrials, and that raises the risk of lackluster longer-term returns.
For further details see:
The Market's Love Affair With Atlas Copco Risks Lower Long-Term Returns