Allegion price target lowered to $134 from $137 at Barclays

Barclays analyst Julian Mitchell lowered the firm’s price target on Allegion (ALLE) to $134 from $137 and keeps an Underweight rating on the shares as part of a Q4 preview for the multi-industry sector. The firm sees a slow start to the year amid sluggish organic sales growth and currency headwinds and notes investor expectations “are moving quickly, with cyclicals again somewhat out of favor.”