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.
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Allegion: Near-Term Value Play, But No Long-Term Alpha