Assa Abloy: Oddo says very attractive profile - buy

(CercleFinance.com) - On Monday, an analyst at Oddo BHF confirmed his "buy" rating on the share of Swedish lock-maker, Assa Abloy, noting that Q3 results exceeded expectations, with the group outperforming its market.


The broker still believes that the group has a very attractive growth profile (8.6% expected organic and external growth combined in 2020). The share is trading at a premium of 11% above its sector (market capitalisation > 10 billion euros), which Compares to 20%-30% in the past, Oddo appreciates.

Oddo BHF hence confirms its target price of 249 Swedish kronor for the share, which represents upside potential of around 10%.


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