ABB (NYSE:ABBNY) Raised to Strong-Buy at Zacks Research

ABB (NYSE:ABBNY) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. Wall Street Zen cut shares of ABB from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of ABB in a research note on Wednesday, May 6th. Citigroup reiterated a “neutral” rating on shares of ABB in a research note on Thursday, April 23rd. Kepler Capital Markets cut shares of ABB from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of ABB from a “sell” rating to a “hold” rating in a research note on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $58.00.

ABB Stock Performance

Shares of NYSE ABBNY opened at $103.91 on Thursday. The firm’s 50-day moving average price is $91.15 and its 200-day moving average price is $82.36. The company has a quick ratio of 0.99, a current ratio of 1.37 and a debt-to-equity ratio of 0.44. The company has a market cap of $189.44 billion, a PE ratio of 49.01, a PEG ratio of 2.48 and a beta of 1.36. ABB has a 52-week low of $56.18 and a 52-week high of $107.84.

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.