** Shares of dormakaba DOKA.S are up around 4% after Barclays initiates the Swiss security solutions provider with an "overweight" rating

** The broker believes the company's strategic refocus on the US will lead to gains in North America as sales in non-residential construction recover

** Furthermore, the analysts point to several cost savings programmes that should help close the operating margin to its direct peers Assa Abloy ASSAb.ST and Allegion ALLE.N

** Barclays forecasts above-sector earnings growth and faster margin expansion, which it says are not currently reflected in the company's valuation

** If gains hold, the stock will see its biggest one-day rise in nearly two months

(Reporting by Simon Ferdinand Eibach)

((Simonferdinand.eibach@thomsonreuters.com))