Morgan Stanley has raised its target price for Epiroc to 202 Swedish kronor, up from the previous 198 kronor, while maintaining its "Equal Weight" rating, according to Bloomberg News.
Epiroc AB is a leading global manufacturer of drilling, excavation, construction and demolition equipment for the mining, construction and natural resources sectors. Net sales break down by family of products and services as follows:
- excavation, construction and demolition equipment and services (76.7%): drilling rigs, excavators, loaders, trucks, etc. Net sales by revenue source are divided between sales of services (55.6%) and equipment (44.4%);
- drilling tools and excavator accessories (23%): hydraulic concrete breakers, demolition tongs, concrete tongs, hydraulic shears, crusher buckets, grabs, hydraulic compactors, augers, excavator magnets, etc.;
- other (0.3%).
Net sales are distributed geographically as follows: Sweden (2.3%), Europe (11.4%), Asia and Australia (29.1%), North America (28%), Africa and the Middle East (17%) and South America (12.2%).
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