The stock of ABB Ltd (ADR) (NYSE:ABB) hit a new 52-week high and has $27.43 target or 20.00% above today’s $22.86 share price. The 5 months bullish chart indicates low risk for the $50.88 billion company. The 1-year high was reported on Oct, 6 by Barchart.com. If the $27.43 price target is reached, the company will be worth $10.18 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 303,204 shares traded hands. ABB Ltd (ADR) (NYSE:ABB) has risen 22.96% since March 3, 2016 and is uptrending. It has outperformed by 14.62% the S&P500.
Analysts await ABB Ltd (ADR) (NYSE:ABB) to report earnings on October, 19. They expect $0.28 earnings per share, up 7.69% or $0.02 from last year’s $0.26 per share. ABB’s profit will be $623.20 million for 20.41 P/E if the $0.28 EPS becomes a reality. After $0.30 actual earnings per share reported by ABB Ltd (ADR) for the previous quarter, Wall Street now forecasts -6.67% negative EPS growth.
ABB Ltd (ADR) (NYSE:ABB) Ratings Coverage
Out of 10 analysts covering ABB Ltd (NYSE:ABB), 2 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 20% are positive. $24 is the highest target while $21 is the lowest. The $24 average target is 4.99% above today’s ($22.86) stock price. ABB Ltd has been the topic of 15 analyst reports since August 21, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating given on Thursday, September 1 by BNP Paribas. The rating was downgraded by JP Morgan on Tuesday, September 22 to “Underweight”. The stock has “Sell” rating given by Berenberg on Friday, September 4. The company was upgraded on Friday, October 9 by Jefferies. The stock of ABB Ltd (ADR) (NYSE:ABB) has “Sector Perform” rating given on Wednesday, April 6 by RBC Capital Markets. The rating was upgraded by RBC Capital Markets on Friday, December 11 to “Outperform”. Robert W. Baird maintained it with “Neutral” rating and $21 target price in Thursday, April 21 report. The rating was upgraded by Societe Generale on Thursday, April 21 to “Hold”. The firm has “Underperform” rating given on Tuesday, February 9 by BNP Paribas. HSBC downgraded the shares of ABB in a report on Friday, August 19 to “Hold” rating.
According to Zacks Investment Research, “ABB Ltd, headquartered in Zurich, Switzerland, is engaged in providing power and automation technologies for its utility and industrial customers. The Company provides a range of products, systems, solutions and services that are designed to improve power grid reliability, increase industrial productivity and enhance energy efficiency. ABB is focused on power transmission, distribution and power-plant automation and serves electric, gas and water utilities, as well as industrial and commercial customers. Its Power Products division manufactures three categories of products: High-voltage Products, Medium-voltage Products and Transformers. The key technologies include high- and medium-voltage switchgear, circuit breakers for various current and voltage levels, power and distribution transformers, as well as sensors and products to automate and control electrical and other utility networks. ABB Ltd is structured into four regions: Europe, the Americas, Asia and the Middle East and Africa (MEA).”
More important recent ABB Ltd (ADR) (NYSE:ABB) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on July 23, 2009, also Fool.com published article titled: “Is ABB Ltd (ADR) Destined for Greatness?”, Fool.com published: “Forget ABB Ltd. (ADR) and Check Out This German Robot Maker” on May 21, 2014. More interesting news about ABB Ltd (ADR) (NYSE:ABB) was released by: Finance.Yahoo.com and their article: “ABB Ltd. (ABB) Q2 Earnings Improve, Revenues Down Y/Y” with publication date: July 21, 2016.
ABB Company Profile
ABB Ltd (ABB), incorporated on March 5, 1999, is engaged in power and automation technologies. The Firm provides a range of products, systems, solutions and services for utility and industry customers. The Firm manages its business on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. The Firm operates in approximately 100 countries across four regions: Europe, the Americas, Asia, and the Middle East and Africa (MEA).
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