ABB (ABB) was Upgraded to a Hold Rating at Berenberg Bank


Berenberg Bank analyst Berenberg Bank upgraded ABB (ABB) to Hold yesterday and set a price target of CHF25.00. The company’s shares closed last Monday at $29.08, close to its 52-week high of $30.89.

The word on The Street in general, suggests a Hold analyst consensus rating for ABB with a $27.35 average price target, a -6.7% downside from current levels. In a report issued on February 5, Nordea Markets also downgraded the stock to Hold.

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ABB’s market cap is currently $59.06B and has a P/E ratio of 11.10. The company has a Price to Book ratio of 14.74.

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ABB Ltd. is a holding company, which engages in the development and provision of power and automation technologies. It operates through the following business segments: Electrification, Industrial Automation, Motion, Robotics & Discrete Automation and Corporate and Other. The Electrification segment manufactures and sells products and solutions which are designed to provide safer electrical flow from the substation to the socket. The Industrial Automation segment develops and sells integrated automation and electrification systems and solutions, such as process and discrete control solutions, advanced process control software and manufacturing execution systems, sensing, measurement and analytical instrumentation and solutions, electric ship propulsion systems, as well as large turbochargers. The Motion segment manufactures and sells motors, generators, drives, wind converters, mechanical power transmissions, complete electrical powertrain systems and related services and digital solutions for a wide range of applications in industry, transportation, infrastructure, and utilities. The Robotics & Discrete Automation segment develops and sells robotics and machinery automation solutions, including robots, controllers, software, function packages, cells, programmable logic controllers, industrial PCs, servo motion, engineered manufacturing solutions, turn-key solutions and collaborative robot solutions for a wide range of applications. The Corporate and Other segment includes headquarters, central research and development, the Company’s real estate activities, Corporate Treasury Operations, historical operating activities of certain divested businesses and other non-core operating activities. The company was founded on January 5, 1988 and is headquartered in Zurich, Switzerland.

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