Barclays Downgrades Allegion to Equal-Weight, Lowers Price Target to $119
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Julian Mitchell downgraded Allegion (NYSE:ALLE) from Overweight to Equal-Weight and reduced the price target from $130 to $119.
December 04, 2023 | 10:24 am
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Allegion's stock rating was downgraded by Barclays from Overweight to Equal-Weight, and the price target was lowered from $130 to $119.
Downgrades by analysts can lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The reduction in the price target further suggests a lowered expectation of the stock's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100