Allegion price target raised to $150 from $135 at Mizuho

Mizuho raised the firm’s price target on Allegion to $150 from $135 and keeps a Neutral rating on the shares. The firm recalibrated several electrical equipment and multi-industry models for seasonality and trend data ahead of the Q3 earnings season to reflect corporate feedback, portfolio updates, channel checks, and related incoming data. The target increase is largely driven by increased group valuations driving up the entire complex, the analyst tells investors in a research note.