Assa Abloy: Oddo raises target price

(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Assa Ably shares, having increased its corresponding target price from 248 Swedish kronor to 278 Swedish kronor, citing it as one of the best positioned to benefit from the US plan for massive investment in infrastructure and building renovation.


For this plan, which could be announced soon and should at least partially use the 2 trillion dollar proposal of the election campaign, the analyst estimates the impact on EBITDA of its sample of stocks at between 2% and 10% per year.

Similar to Legrand, dormakaba and Schneider Electric, Oddo BHF believes that Assa Abloy could stand out from the crowd in the capital goods sector, highlighting its heavy exposure to the US and the weight of non-residential renovation.


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