ABB (NYSE:ABBNY) Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded ABB from "hold" to "buy," joining Kepler Capital Markets' recent upgrade to "strong-buy," while other firms have issued mixed ratings (1 Strong Buy, 6 Hold, 2 Sell).
• Despite those upgrades, the MarketBeat consensus remains "Hold" with an average target of $58, well below ABB's recent price—the stock opened at $96.29 and was trading up about 4.1%, with a market cap near $177.6 billion and a P/E of 45.4.
• ABB is a Zurich-based global engineering and technology company focused on electrification, automation, robotics and motion technologies serving utility, industrial, transportation and infrastructure markets.

ABB (NYSE:ABBNY - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

ABBNY has been the topic of several other research reports. Kepler Capital Markets raised ABB from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 27th. Zacks Research cut shares of ABB from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of ABB in a report on Thursday, January 15th. Barclays upgraded shares of ABB from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Finally, Citigroup downgraded shares of ABB from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $58.00.

ABB Trading Up 4.1%

ABBNY opened at $96.29 on Friday. The stock has a market capitalization of $177.55 billion, a PE ratio of 45.42, a P/E/G ratio of 2.48 and a beta of 1.28. The firm's fifty day moving average price is $87.10 and its 200 day moving average price is $78.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.37 and a quick ratio of 0.99. ABB has a 12-month low of $49.58 and a 12-month high of $97.17.

About ABB

ABB Ltd. is a global engineering and technology company headquartered in Zürich, Switzerland, with roots dating to the 1988 merger of ASEA and Brown, Boveri & Cie. The company develops and supplies technologies that enable electrification, automation and digitalization across utility, industrial, transportation and infrastructure markets. ABB's offerings span hardware, software and services designed to improve efficiency, reliability and sustainability for its customers.

ABB's principal activities include electrification products and systems for power distribution and management; industrial and factory automation solutions; robotics and discrete automation for manufacturing; and motion technologies including electric motors and drives.

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