Jefferies Launches Coverage on 12 European Capital Goods Stocks

Jefferies initiated coverage of 12 companies in the European Capital Goods sector.

"Our analysis focuses on four crucial value drivers: organic growth, operational gearing, cash generation/deployment and ROCE, underpinned by a very thorough look at what has driven share prices over the last decade," analysts led by Peter Reilly said.

They initiate with Buys on Atlas Copco, GEA, Osram and Siemens; Underperforms on ABB, Assa Abloy, Sandvik, Schneider and Volvo; and Holds on Legrand, Philips and SKF.

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