Assa Abloy: RBC Capital Markets reiterates 'outperform'.

(CercleFinance.com) - RBC Capital Markets reiterates its "outperform" rating on Assa Abloy, with a target price of 200 Swedish krona, expecting "revamped growth" and "revamped multiples" in 2017.


The brokerage firm says the Swedish lock maker had an "annus horriblis" in 2016, with the shares being the worst performer in its coverage scope, down 8% compared to +21% for the rest of the sector.

Even so, Assa Abloy is the best positioned of construction-exposed names, RBS says, with the best chance of a meaningful renewed acceleration in underlying growth in 2017, margin improvement and a consequent re-rating opportunity, it adds.

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