Wells sees ‘no alarm bells’ for Allegion in Assa Abloy report

Wells Fargo analyst Joseph O’Dea says the North America non residential comments from Assa Abloy were encouraging, with “no alarm bells” for Allegion. Assa’s residential softness is mix positive, supporting continued Allegion margin strength, the analyst tells investors in a research note. Wells keeps an Outperform rating on Allegion with a $120 price target.