Securitas downgraded to Underperform from Hold at Jefferies

Jefferies analyst Kean Marden downgraded Securitas to Underperform from Hold with a price target of SEK 70, down from SEK 105. Evidence of sequential volume decline is emerging, and inflation risks will peak next year, Marden tells investors in a research note. The analyst says Securitas’ high leverage is skewing its risk/reward negatively.