ABB (NYSE:ABBNY) Raised to "Hold" at Barclays

Key Points

• Barclays upgraded ABB from a "strong sell" to a "hold" rating in its latest research note.
• Analyst consensus shows two Strong Buy, five Hold and two Sell ratings, with an average rating of Hold and an average price target of $58.00.
• ABB shares opened at $91.67 (near a 52-week high of $93.40) and carry a market cap of $169.03 billion, leaving the current market price materially above the consensus $58.00 target.

ABB (NYSE:ABBNY - Get Free Report) was upgraded by equities research analysts at Barclays from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft restated a "sell" rating on shares of ABB in a research note on Thursday, January 15th. Kepler Capital Markets upgraded ABB from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 27th. Wall Street Zen downgraded ABB from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Sanford C. Bernstein upgraded ABB from a "strong sell" rating to a "hold" rating in a research note on Wednesday, January 7th. Finally, Zacks Research upgraded ABB from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $58.00.

ABB Trading Up 1.2%

Shares of ABBNY opened at $91.67 on Monday. ABB has a fifty-two week low of $49.58 and a fifty-two week high of $93.40. The business has a 50-day moving average of $86.53 and a 200 day moving average of $78.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.37. The firm has a market cap of $169.03 billion, a P/E ratio of 43.24, a price-to-earnings-growth ratio of 2.48 and a beta of 1.28.

ABB Company Profile

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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