Assa Abloy AB stock (SE0007100581): Goldman Sachs raises price target

Goldman Sachs raised its price target on Assa Abloy AB to SEK 377 from SEK 375 on May 11, 2026, while maintaining a Neutral rating. The adjustment comes amid steady trading for the Swedish security solutions leader.

Goldman Sachs raised its price target for Assa Abloy AB to SEK 377 from SEK 375 on May 11, 2026, while reiterating its Neutral rating, Marketscreener as of 05/11/2026. The modest increase signals continued analyst interest in the global leader in locks and security solutions, which trades on Nasdaq Stockholm. Assa Abloy shares recently closed at SEK 355.10, with an average analyst target of SEK 403.90 suggesting potential upside, per ad-hoc-news as of 05/11/2026.

As of: 11.05.2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: ASSA ABLOY AB (publ)
• Sector/industry: Industrials / Security solutions
• Headquarters/country: Sweden
• Core markets: Global, with strong presence in Europe and North America
• Key revenue drivers: Locks, doors, security systems
• Home exchange/listing venue: Nasdaq Stockholm (ASSA-B)
• Trading currency: SEK

Assa Abloy AB: core business model

Assa Abloy AB operates as a global leader in access solutions, producing mechanical and electromechanical locks, digital door locks, high-security doors, and entrance systems. The company serves residential, commercial, and institutional customers worldwide through a portfolio of brands including Yale, Chubb, and Mul-T-Lock. Its business model emphasizes innovation in smart locks and access control systems, with a focus on recurring revenue from service and maintenance contracts. Assa Abloy generates the majority of its sales from Europe and North America, benefiting from urbanization trends and rising demand for secure access solutions.

Main revenue and product drivers for Assa Abloy AB

Key revenue streams for Assa Abloy AB include residential locks (around 30% of sales), commercial door solutions, and hospitality products. Electromechanical and digital solutions have grown rapidly, representing over 20% of revenue as of the latest annual report published in February 2026 covering 2025 full-year results. The company reported SEK 394.7 billion in market capitalization per Midgard Finance as of 05/11/2026, underscoring its scale in the industrials sector.

Industry trends and competitive position

The security solutions industry is shifting toward digital and connected access systems, driven by IoT integration and cybersecurity needs. Assa Abloy AB holds a leading position with approximately 15-20% global market share in locks, ahead of competitors like Allegion and dormakaba. Inclusion in indices like the Euronext Low Carbon 100 Europe PAB highlights its ESG efforts, as noted on Euronext as of recent data. For US investors, Assa Abloy's exposure to North American commercial real estate and hospitality sectors provides a play on US economic recovery.

Why Assa Abloy AB matters for US investors

Assa Abloy AB offers US investors indirect exposure to the US market through its significant North American operations, which account for about 25% of group revenue. Products are widely used in US hotels, offices, and residential buildings, linking performance to US construction and real estate cycles. Listed on Nasdaq Stockholm, the stock is accessible via US brokers as an ADR or directly, with currency hedging options mitigating SEK/USD volatility.

Conclusion

The recent price target adjustment by Goldman Sachs to SEK 377 reflects ongoing analyst scrutiny of Assa Abloy AB's position in the evolving security sector. With steady trading and a strong global footprint, the company remains a key player for investors tracking industrials. US investors may find value in its North American exposure amid broader market trends.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.