Barclays upgrades Allegion on improving non-residential demand outlook

Allegion

14/08/2025 12:33

** Barclays raises lockmaker Allegion ALLE.N rating to "equal-weight" from "underweight", also lifts PT to $163 from $156

** New PT represents a 3.9% downside to the stock's last close

** Barclays says co's heavy exposure to non-residential construction has weighed on growth, but market conditions now look more stable

** With healthier industry trends, co is expected to return to volume growth in 2025 - Barclays

     ** Notes Allegion could benefit from higher U.S. tariffs, as they make it harder for cheaper Asian products to compete

** Five of 13 brokerages rate the stock "buy" , seven "hold" and one "sell"; median PT is $172.50- data compiled by LSEG

** As of last close, stock had risen 29.8% YTD to $169.62

 (Reporting by Apratim Sarkar)

 ((Apratim.Sarkar@thomsonreuters.com))