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ALLE - Allegion: Near-Term Value Play But No Long-Term Alpha
Allegion plc
2024-07-11 06:59:38 ET
Summary
Allegion's near-term upside is strong (17.5% 1Y target), but long-term alpha is unlikely due to competition and moderate growth prospects.
AI integration and product advancements (e.g., Schlage XE360) could drive future growth, yet AI market hype demands tangible operational benefits.
Historically, Allegion's growth has been moderate (104% revenue, 63.5% net income over 10 years), making it a stable mid-cap investment rather than a high-growth opportunity.