European Capital Goods
Q4'08 Survey: All end-markets declining; upgrading
early-cycle Sandvik to Neutral
Capital Goods
Nico DilAC
(44-20) 7325-4292
nico.dil@jpmorgan.com
Andreas Willi
(44-20) 7325-4853
andreas.p.willi@jpmorgan.com
Bramen Singanayagam
(44-20) 7325-6810
bramen.x.singanayagam@jpmorgan.com
J.P. Morgan Securities Ltd.
For Specialist Sales advice, please
contact:
Timm Schulze-Melander, CFA
(44 20) 7325-3282
timm.schulze-melander@jpmorgan.com
Summary Ratings and Estimates
Company Price Rating Price Target PT End Date Metric Current FYE Next FYE
Atlas Copco (Skr) 68.25 OW (Skr) 80.00 Dec-09 Adj. EPS (Skr) 7.74 (Skr) 6.64
prior (Skr) 73.00 (Skr) 8.24 (Skr) 7.20
MAN (