Redeye: Sdiptech - Infrastructure for Growth

We initiate coverage of Sdiptech. Since the IPO of the preferred share in 2015, the company has made 24 acquisitions. Besides acquisitions, Sdiptech has an ambitious organic growth target of 5-10% annually, which we find optimistic. Nevertheless, we see potential for above-market growth rates in several subsidiaries – in niches such as Climate, Electricity and Water – due to their exposure to structural drivers such as sustainability, safety and convenience. Our Base case, excluding future acquisitions, is SEK 48 i.e. at a 20% premium to the current stock price.

Read more and download the initial research report: http://bit.ly/2ONESuk 

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