Sandvik AB

SAND: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SEK 836.00	Ktmzr	Yqfnprmfr

Demand for Mining Equipment Drives Second-Quarter Order Growth for Sandvik; Shares Are Fairly Valued

Matthew Donen

Jul 16, 2021

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.

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