Assa Abloy: Oddo BHF maintains buy rating after CMD
(CercleFinance.com) - After a roadshow organised with group CEO, Nico Delvaux, who put "growth in the spotlight," on Monday Oddo BHF said that it is maintaining its "buy" rating on the Assa Abloy share.
The broker said that during its Capital Market Day, Assa Abloy confirmed its medium-term targets, including: 1/ organic growth of 5% p.a. and growth through acquisitions of 5% p.a.; 2/ an EBIT margin of between 16% and 17%. The group's CEO described these targets as ambitious: above all, he sent a clear message that he wants to focus on growth (an inflection, in its opinion).
The analyst also sticks to his target price of 207 Swedish kronor for the share, which suggests upside potential of 17%.
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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 said that during its Capital Market Day, Assa Abloy confirmed its medium-term targets, including: 1/ organic growth of 5% p.a. and growth through acquisitions of 5% p.a.; 2/ an EBIT margin of between 16% and 17%. The group's CEO described these targets as ambitious: above all, he sent a clear message that he wants to focus on growth (an inflection, in its opinion).
The analyst also sticks to his target price of 207 Swedish kronor for the share, which suggests upside potential of 17%.
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.