Assa Abloy: Barclays upgrades stock

(CercleFinance.com) - Barclays has upgraded its rating on Assa Abloy shares to "Overweight" from "Equal Weight," having increased its corresponding target price to 280 Swedish kronor (from 210 Swedish kronor), saying it "should become a core holding for investors in European industries again".


"A quiet transformation has been taking place under CEO Nico Delvaux since 2018," the broker points out, for which the lock solutions group's stock "is likely at an inflection point", after half a decade of underperformance.


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