As previously reported, Wells Fargo analyst Joseph O’Dea downgraded Allegion to Equal Weight from Overweight with a price target of $140, up from $139. The firm thinks recent outperformance is deserved and continues to view Allegion as high quality exposure to both nonresidential and residential verticals. However, following the recent stock strength, Wells moves to the sidelines given modest upside to its price target.
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Read More on ALLE:
- Allegion sees FY24 adjusted EPS $7.00-$7.15, consensus $7.04
- Allegion reports Q4 adjusted EPS $1.68, consensus $1.59
- Allegion raises quarterly dividend by 7% to 48c per share
- Allegion acquires UK-based Boss Door Controls, terms undisclosed
- Astec appoints two members to board of directors, one director retiring
