Assa Abloy: Jefferies upgrades to 'buy'

(CercleFinance.com) - On Tuesday Jefferies upgraded its rating on the shares of Swedish lockmaker Assa Abloy, citing the company's attractive valuation.


Analysts at the US broker raised their rating on the stock from "hold" to "buy," with a target price of 217 Swedish kronor,

"Assa Abloy will emerge from the Covid-19 crisis stronger given its dominant franchise in one of the most attractive end-markets in industrials,” Jefferies said in a note to clients

Adoption rates in electromechanical solutions are likely to accelerate post pandemic, the broker added, also noting that the company has historically stepped up its M&A activities post downturns.

In Tuesday afternoon the shares were down 0.6%.

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