Wells Fargo cuts PT for Allegion as investors worry about slowing demand

Allegion

10/07/2024 19:01

** Wells Fargo cuts price target for security products
provider Allegion  ALLE.N  to $125 from $141, keeps
"equal-weight" rating 
    ** The new PT represents a 9% upside to the stock's last
close
    ** Brokerage flags "downbeat" investor tone on demand from
non-residential sector
    ** Four of 12 brokerages rate the stock "buy" or higher, six
"hold" and two "sell" or lower; their median PT is $140.45
    ** ALLE stock down 8.8% YTD

 (Reporting by Aishwarya Jain in Bengaluru)
 ((Aishwarya.Jain@thomsonreuters.com;))