Assa Abloy: Oddo downgrades stock

(CercleFinance.com) - Oddo BHF has downgraded Assa Abloy shares from "outperform" to "neutral", reucing it target price for them reduced from 296 SEK to 274 SEK (cp: 244 SEK, -1.
7%), after reducing its estimates for the door opening solutions provider.

While it believes that the group's best-in-class status remains an asset in this period of low visibility, the broker believes that it should logically take a cautious view, as it believes that Assa Abloy's own business makes visibility low.

In addition, demand for residential construction is clearly slowing, particularly in newly built homes; analysts believe that part of the group's commercial activity should also come under pressure.



Copyright (c) 2023 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.