Assa Abloy AB Receives Upgrade from Barclays
Assa Abloy AB, a Swedish company specializing in door opening products and services, has received a positive development in its outlook. Barclays, a leading bank, has upgraded its recommendation for the company to “neutral” from “underweight”.
Price Target Increased
Barclays has increased its price target for Assa Abloy AB to 351 kronor. This move is attributed to improved prospects in the US commercial construction market, which is expected to drive growth and end a period of profit declines.
Market Reaction
The company’s shares have been affected by a slight decline in the Stockholm stock market. However, the upgrade from Barclays is seen as a positive sign for the company’s future performance.
Key Details
- Recommendation upgraded to “neutral” from “underweight”
- Price target increased to 351 kronor
- Improved prospects in the US commercial construction market driving growth