RBC Capital analyst Wasi Rizvi maintained a Hold rating on ABB Ltd (ABB) today and set a price target of $21. The company’s shares opened today at $18.53, close to its 52-week low of $18.05.
The word on The Street in general, suggests a Hold analyst consensus rating for ABB Ltd with a $20.22 average price target, representing a 9.1% upside. In a report released today, UBS also maintained a Hold rating on the stock with a $20.50 price target.
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Based on ABB Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $536 million. In comparison, last year the company had a net profit of $679 million.
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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 Products; Robotics and Motion; Industrial Automation; Power Grids; and Corporate and Other.
