Securitas is still cheap. The share price is around 100 kronor, and with the 2024 consensus forecast, the P/E is slightly under 10. Nordea’s target price is 130 kronor.
In my opinion, the company’s demand outlook is good. The more discord and crime there is in Western countries, the brighter the outlook. Technological development raises the barrier to entry and brings economies of scale, which reduces price pressure from competition. I will continue adding to this at a slow pace for a while longer.