Assa Abloy: UBS reiterates buy recommendation

(CercleFinance.com) - The analyst expects the next quarter to be a solid one.
It confirms its buy recommendation on the stock, leaving its target price unchanged at SEK 360.

Based on our recent audits of distribution networks and review of data, we expect organic growth of around 1% and a margin of 16.3% for the fourth quarter, UBS says.

While we clearly have scope for further improvement in the underlying performance of all divisions, we will pursue our acquisition strategy and continue to invest in innovation. Consequently, our target operating margin of 16% to 17% remains unchanged, said Nico Delvaux, Chairman and CEO, on the publication of Q3 results.


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