Imperial Capital has upgraded Allegion PLC
However, the company raised the midpoint of FY16 EPS guidance, resulting in full-year EPS guidance outlook of $3.38–$3.4, up from prior guidance of $3.30–$3.40.
“Given Allegion's cost reductions, continued expansion, increased use of its strong cash flow for revenue-generating investments, and the company's leading position in certain key product categories and geographies, we continue to remain positive on Allegion's fundamentals through 2017 and the stock price over that period,” analyst Jeff Kessler wrote in a note.
That said, the analyst remains cautious on Asian growth, select European regions and select verticals in the United States. As such, Kessler cut his price target $72 from $79, with the revised target representing an upside of 13 percent above recent share price.
Earlier in August, Kessler has
|Nov 2016||Imperial Capital||Upgrades||In-Line||Outperform|
|Oct 2016||Berenberg||Initiates Coverage on||Buy|
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