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UPDATE: Deutsche Bank Downgrades ABB to Sell on Weak Demand, Competitive Concerns

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Deutsche Bank reduced its rating on ABB (NYSE: ABB) from Hold to Sell and lowered its price target from $17.50 to $15.

Deutsche Bank noted, "Electricity Transmission & Distribution (T&D) investment goes through multi-decade investment cycles, most recently being supported by demand growth in emerging markets, and reliability upgrades and renewable energy interconnects in the west. For equipment players we see existing competitive threats getting tougher as Chinese players focus on exports, and see demand growth potentially weakening as western governments slow renewable investments in an age of austerity and cheap gas."

ABB closed at $18.03 on Monday.

Latest Ratings for ABB

DateFirmActionFromTo
Jan 2015Credit SuisseDowngradesOutperformNeutral
Jan 2015Bank of AmericaDowngradesBuyNeutral
Nov 2014Morgan StanleyDowngradesOverweightEqualweight

View More Analyst Ratings for ABB
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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