Vertical Research Downgrades Allegion to Hold, Lowers Price Target to $100
Portfolio Pulse from Benzinga Newsdesk
Vertical Research analyst Jeffrey Sprague has downgraded Allegion (NYSE:ALLE) from Buy to Hold and lowered the price target from $128 to $100.
October 19, 2023 | 1:53 pm
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Allegion's rating has been downgraded from Buy to Hold by Vertical Research, and its price target has been lowered from $128 to $100.
The downgrade from Buy to Hold indicates a less optimistic outlook for Allegion's stock, which could lead to a decrease in demand and potentially a lower stock price. The lowering of the price target from $128 to $100 also suggests that the analyst believes the stock is overvalued at current levels, which could put downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100