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Investing.com - Kepler Cheuvreux upgraded dormakaba Holding AG (SWX:DOKA) from Hold to Buy and raised its price target to CHF810.00 from CHF780.00 on Thursday.
The Swiss security and access solutions provider’s stock rating was upgraded following what the research firm described as continued delivery on its strategy to "elevate its performance, reduce complexity and innovate and grow" both organically and through mergers and acquisitions.
Kepler Cheuvreux cited the stock’s recent correction and lowered estimates for net financial debt as key factors behind the more bullish outlook and higher price target.
The research firm maintained its forecast of 4.0% organic net sales growth for dormakaba in 2025/26, predicting gradually recovering non-residential construction markets will support robust volume growth, alongside expected pricing of approximately 2%.
Kepler Cheuvreux also reiterated its projection that dormakaba’s adjusted EBITDA margin will expand by 110 basis points to 16.6% in the coming financial year, driven primarily by growing volumes and a slightly positive price-over-cost contribution, including an estimated CHF22 million in incremental cost savings from restructuring.
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