William Blair Reiterates Market Perform On ABB Following Announcement Of Future Plans And Share Buyback


In a research report issued yesterday, William Blair analyst Nicholas Heymann assigned a Market Perform rating on ABB Ltd (ADR) (NYSE:ABB) with a price target of $23. This report follows the announcement of the plans for the future and additionally new share buyback. ABB said that the key will be to remain better sales growth and margin expansion.

Heymann observed, “ABB announced its “Next Level” plan to help drive sales growth, operational EPS growth, and margin expansion by focusing on repositioning the “gravity” of the company, continuing to make accretive acquisitions, expanding into attractive growth areas, and making further cost reductions.” And continued: “In addition to the Next Level plan, ABB announced a new $4 billion share buyback plan. The company expects to spend $3 billion on reducing the outstanding share count over the next 24 months, while the remaining $1 billion will be used to offset employee stock options.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Nicholas Heymann has a total average return of 3.3% and a 66.7% success rate. Heymann is ranked #2323 out of 3277 analysts.

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