Pareto Securities expects modest positive forecast revisions for lockmaker Assa Abloy after its third-quarter report, according to a comment.
The research house expects low-single-digit percentage upgrades after Assa Abloy reported adjusted operating profit of more than SEK 7 billion in the third quarter, 2 percent above expectations, while sales were in line with forecasts.
Organic growth amounted to 4 percent and the adjusted operating margin to 17.4 percent. The performance was driven primarily by the operations in Americas and EMEIA.
Pareto has previously had a Buy rating on the company with a price target of SEK 410.
Assa Abloy is trading down 0.2 percent.
