Assa Abloy (Hold, TP: SEK275.00) - Decent Q2, but still a HOLD
We have made limited changes to our estimates following the Q2 report. Although Assa Abloy screens well as a reopening outperformer, at a 2022e EV/EBIT of >19x, we see this as already reflected, and our estimates are broadly in line with consensus. We reiterate our HOLD, but have raised our target price to SEK275 (270).
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.