JPMorgan downgraded Allegion (ALLE) to Neutral from Overweight with a price target of $150, down from $170. The firm cites the company’s margin and construction headwinds for the downgrade. Despite Allegion’s multiple trading below historical averages, there are more compelling opportunities elsewhere in the building products group, the analyst tells investors in a research note.
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Read More on ALLE:
- Allegion price target lowered to $150 from $157 at BofA
- Allegion price target lowered to $170 from $180 at JPMorgan
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