Assa Abloy: Berenberg downgrades stock
(CercleFinance.com) - On Tuesday Berenberg downgraded Assa Abloy shares from "buy" to "hold", cutting its target price for them from 315 Swedish kronor to 250 Swedish kronor.
In a study this morning, the analyst believes that the Swedish manufacturer of locks and access technologies is currently in a "difficult situation", contrary to what its above expectations Q3 results might suggest.
The stock is increasingly handicapped by the perception among investors that an economic slowdown is imminent and that it is not the right time to invest, analysts say.
Copyright (c) 2022 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.