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UPDATE: Bank Of America Upgrades ABB Ltd (ADR) On Multiple Positive Factors

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In a report published Thursday, Bank of America analyst Mark Troman upgraded the rating on ABB Ltd (ADR) (NYSE: ABB) from Neutral to Buy, and raised the price target from $26.02 to $26.23

In the report, Bank of America noted, “ABB is the global leader in electrical Transmission and Distribution (T&D) and a Top 3 player in key automation segments (motors, drives, robots and process control). Both these markets should continue to grow well, as customers seek higher productivity and energy efficiency. However, the most recent problem for the stock has been poor contract execution in Power Systems leading to significant charges. However, we think these issues should be over in 2014 leading to a recovery in 2015.”

ABB Ltd (ADR) closed on Wednesday at $23.32.

Latest Ratings for ABB

DateFirmActionFromTo
Dec 2018DowngradesNeutralUnderweight
Sep 2018UpgradesNeutralBuy
Jul 2018UpgradesUnderperformHold

View More Analyst Ratings for ABB
View the Latest Analyst Ratings

Posted-In: Bank of America Mark TromanAnalyst Color Upgrades Analyst Ratings

 

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