BofA analyst Andrew Obin upgraded Allegion (ALLE) to Neutral from Underperform with a price target of $175, up from $110, telling investors that Allegion’s strong execution has led to the company outperforming its weak construction end markets and Street expectations. Meanwhile, commercial markets have seemingly bottomed while bond issuance for Institutional verticals continues to grow, though Allegion’s residential exposure keeps the firm at a Neutral rating.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALLE: