Market Overview

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

Share:
Related ABB
Watch These Huge Call Purchases In Wednesday Trade
Earnings Scheduled For July 21, 2016
ABB: Power Grids Split Is Upcoming (Seeking Alpha)

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
Aug 2016HSBCDowngradesBuyHold
Apr 2016Societe GeneraleUpgradesSellHold
Apr 2016BairdMaintainsNeutral

View More Analyst Ratings for ABB
View the Latest Analyst Ratings

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

 

Related Articles (ABB)

View Comments and Join the Discussion!