Redburn raises target price for Sandvik to SEK 235 (230), reiterates neutral - BN

Sandvik AB is one of the world's leading manufacturers of machines-tools and industrial tools. Net sales break down by family of products as follows: - machines and tools for mining and infrastructure (51.9%; No. 1 worldwide): drilling semi-trailers, rock perforation tools, excavators, lifting machines, etc.; - cutting tools and machine-tools (39%): intended for machining metals; - equipment for rock and mineral processing (9.1%): crushing and screening equipment, fixing tools, etc. Net sales are distributed geographically as follows: Europe (26.5%), North America (25.2%), Asia (16.6%), Australia and New Zealand (12.6%), Africa and Middle East (12%) and South America (7.1%).