Assa Abloy AB Stock Price Declines to New 52-Week Low

Assa Abloy AB, a Swedish company specializing in door opening products, has seen its stock price decline in recent days. The company’s shares have reached a new 52-week low.

Price Target Lowered by Citigroup

Citigroup has lowered its price target for Assa Abloy to 280 kronor. The investment firm has also reiterated its sell recommendation for the company’s shares.

Short Interest Increases

The company’s short interest has increased, with approximately 0.0% of its shares sold short. This indicates that a small percentage of investors are betting against the company’s stock price.

Industry Growth Expected Despite Challenges

The demand for smart building solutions, particularly access control, is expected to drive growth in the industry. According to recent data, nearly 72% of multifamily owners and operators plan to upgrade existing smart building solutions in the next 12 months.

North American Market Exposure a Concern

Assa Abloy’s exposure to the North American market, which accounts for around 50% of its sales, may be a concern due to the recent announcement of trade tariffs. This development could potentially impact the company’s sales and revenue in the region.