Assa Abloy: Barclays raises target price

(CercleFinance.com) - Barclays said that it has revised its target price for the share of Swedish engineering group Assa Abloy to reflect improvements in US construction indicators.


The broker - which has an "overweight" rating on the stock - has raised its target price from 200 Swedish kronor to 210 Swedish kronor.

Barclays said Assa Abloy has, by far, the largest exposure to US construction amongst European capital goods names, which represents about 45% of earnings.

In addition, Assa Abloy remains a top pick for the Barclays.

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