Assa Abbloy: Oddo maintains 'neutral' rating.

(CercleFinance.com) - On Wednesday Oddo said that it is maintaining its "neutral" rating on Assa Abloy, along with its target price of 192 Swedish krona, after attending an analysts' meeting held by the Swedish lock manufacturer.


Regarding China, a country that represents 7.5% of the group's revenues, and which suffered from malpractice (over-invoicing) last year, the broker notes that the challenge is now how to cope with increasing raw material prices (Including steel) in a context of increased competition.

Meanwhile, Assa Abloy believes that it could make acquisitions in the future, but that the high multiples of many targets would make potential "deals" difficult, Oddo adds.

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