Assa Abloy: further de-rating ahead, Liberum says.

(CercleFinance.com) - The share of Swedish lock maker Assa Abloy is currently down 0.
7% at 168.7 Swedish kronor this Monday, under pressure as broker Liberum has cut its target price for the share from 157 Swedish kronor to 152 Swedish kronor.

In a research report sent to clients, the British brokerage firm said it sees further de-rating ahead despite the share's 25% underperformance over the past 12 months.

In particular, the broker cites increased risk to margin guidance, as the group's reduced rate of investment could halve earnings growth and reduces the stock's appeal.

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