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Investing.com - Barclays initiated coverage on dormakaba Holding AG (SIX:DOKA) with an Overweight rating and a price target of CHF880.00.
The Swiss security and access solutions provider is viewed by Barclays as a "self-help story with favourable end market dynamics," positioning the company for potential outperformance.
Barclays projects dormakaba’s organic sales growth at approximately 5% for fiscal years 2025-2026, about 120 basis points ahead of consensus estimates, driven by the company’s strategic focus on the U.S. market.
The bank expects this growth to coincide with acceleration in the underlying non-residential market, allowing dormakaba to gain market share against competitors.
Barclays’ adjusted EBIT estimates for FY25/26-FY26/27 are 5-8% above market expectations, based on a combination of stronger growth and continued execution of self-help programs that the bank believes will drive faster margin expansion than currently anticipated.
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