ABB (NYSE:ABBNY) Reaches New 12-Month High - Time to Buy?

Key Points

• ABB Ltd's stock reached a new 52-week high of $72.38, closing the trading session at $72.32 with a volume of 138,846 shares.
• Citi upgraded ABB's stock to a "strong-buy" rating, while BNP Paribas initiated coverage with an "underperform" rating and a price target of $58.00.
• The company’s market capitalization stands at $133.31 billion, with a price-to-earnings ratio of 34.10 indicating strong potential for growth in the electrification and automation sectors.

ABB Ltd (NYSE:ABBNY - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $72.38 and last traded at $72.32, with a volume of 138846 shares traded. The stock had previously closed at $71.95.

Analyst Upgrades and Downgrades

ABBNY has been the topic of several research analyst reports. Citigroup upgraded shares of ABB from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 21st. Kepler Capital Markets lowered shares of ABB from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 17th. Wall Street Zen lowered shares of ABB from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 26th. BNP Paribas initiated coverage on shares of ABB in a research note on Tuesday. They set an "underperform" rating and a $58.00 price target on the stock. Finally, Barclays reiterated an "underweight" rating on shares of ABB in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $58.00.

ABB Stock Up 0.5%

The company has a debt-to-equity ratio of 0.44, a current ratio of 1.37 and a quick ratio of 0.99. The firm's 50-day simple moving average is $68.11 and its two-hundred day simple moving average is $60.06. The company has a market capitalization of $133.31 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 2.48 and a beta of 1.18.

ABB Company Profile

ABB Ltd provides electrification, motion, and automation solutions and products for customers in utilities, industry and transport, and infrastructure in Switzerland, rest of Europe, the Americas, the United States, rest of Asia, the Middle East, Africa, China, and internationally. Its Electrification segment offers renewable power solutions, modular substation packages, distribution automation products, switchboards and panelboards, switchgears, UPS solutions, circuit breakers, measuring and sensing devices, control products, wiring accessories, enclosures and cabling systems, and intelligent home and building solutions.

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