Assa Abloy: Oddo BHF maintains buy rating
(CercleFinance.com) - Oddo BHF today announces that it is maintaining its "buy" recommendation on the Assa Abloy stock, saying that the recent warning on the group's results (continued difficulties in China) has enabled it to revise expectations.
The broker believes that a large proportion of the negative factors (China, raw materials) will gradually improve.
Oddo BHF considers that the measures taken by the group (price increases and organisational change - particularly in China) should produce their effects. The analyst also noted from a meeting organised for analysts with the CEO that market trends were positive at the beginning of the second half of 2018.
Oddo BHF says that the group's CEO has once again confirmed his aim to leave medium-term guidance unchanged. This includes an average of 5% organic growth and external growth p.a., with the broker sticking to its target price of 207 Swedish kronor.
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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.
The broker believes that a large proportion of the negative factors (China, raw materials) will gradually improve.
Oddo BHF considers that the measures taken by the group (price increases and organisational change - particularly in China) should produce their effects. The analyst also noted from a meeting organised for analysts with the CEO that market trends were positive at the beginning of the second half of 2018.
Oddo BHF says that the group's CEO has once again confirmed his aim to leave medium-term guidance unchanged. This includes an average of 5% organic growth and external growth p.a., with the broker sticking to its target price of 207 Swedish kronor.
Copyright (c) 2018 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.