Assa Abloy (Buy, TP: SEK250.00) - Possible inflection point ahead
As Assa Abloy’s outlook commentary turned more positive with the Q4 report, we believe sentiment in the stock, which has underperformed the sector over the past year, could be at an inflection point. We reiterate our BUY and have raised our target price to SEK250 (235) after lifting our 2021–2022e adj. EBIT by 1–2%.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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