Securitas initiated with an Outperform at Exane BNP Paribas

Exane BNP Paribas analyst Andrew Grobler initiated coverage of Securitas with an Outperform rating and SEK 115 price target. The analyst yesterday initiated coverage of the business services sector. He sees significant addressable market growth for credit information companies, but anticipates that pressure on prices, costs and services will weigh on margins.