2024-05-19 22:36:31 ET
Summary
- Assa Abloy's 1Q24 report showed stable sales trends and operating margin improvements, leading to a rating upgrade to "BUY".
- The company's growth is driven by non-organic growth and acquisitions, with recent acquisitions expected to bring upside.
- While Assa Abloy has solid trends and strong fundamentals, its high valuation and lack of significant potential upside justify a "HOLD" rating.
Dear readers/followers,
In this article, I'll update my thesis on ASSA ABLOY ( ASAZF ) (ASAZY), a Sweden-based but global-operating business that I recently, in my last article in February of this year, downgraded to a "HOLD" with the following return-related result.
Seeking Alpha Assa Abloy RoR (Seeking Alpha Assa Abloy RoR)
So all things being equal, my calls for the company have, as you can see from the track record above, been the correct ones here. I have in fact, prior to that particular piece, been wholly positive on Assa Abloy for quite some time, and my position in the business is at a convincing overall ROR, as I also pointed out in the previous article. ...
Read the full article on Seeking Alpha
For further details see:
Assa Abloy: Successful Downgrade, But I'm Hoping For Cheaper Valuation