Assa Abloy: RBC reiterates 'outperform' rating.
(CercleFinance.com) - RBC Capital Markets reiterates its "outperform" rating on Assa Abloy, with a target price of 220 Swedish kronor, expecting solid second-quarter results on 19 July.
In a research note sent to clients, the Canadian investment bank said it anticipates stong growth in the past quarter - although less than in first-quarter - forecasting 3% organic sales growth.
"Assa remains one of our favoured high-quality defensive names as we see high and steady earnings growth over the next few years, scope for underlying consensus earnings upgrades, and re-rating potential compared to key peers", RBC said.
The investment bank also points out that the Swedish lock maker is still trading at a discount to construction peers.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a research note sent to clients, the Canadian investment bank said it anticipates stong growth in the past quarter - although less than in first-quarter - forecasting 3% organic sales growth.
"Assa remains one of our favoured high-quality defensive names as we see high and steady earnings growth over the next few years, scope for underlying consensus earnings upgrades, and re-rating potential compared to key peers", RBC said.
The investment bank also points out that the Swedish lock maker is still trading at a discount to construction peers.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.