Berenberg Upgrades ABB Ltd (ABB) to Hold

Berenberg upgraded ABB Ltd (NYSE: ABB) from Sell to Hold.

Analyst Simon Toennessen comments "We upgrade ABB to Hold due to greater conviction in the profit outlook of the Industrial Automation (IA) division, which looks set to benefit from further cyclical tailwinds in 2018. This, together with continued growth in the low voltage and Robotics & Motion businesses should allow the Swiss industrial to grow EPS the fastest amongst its European peers (11% average in FY18-19). Yet valuation at a 22%/3% premium to Siemens/Schneider (both Buy rated) already reflects the appeal of faster growth and thus keeps us only Hold rated."

For an analyst ratings summary and ratings history on ABB Ltd click here. For more ratings news on ABB Ltd click here.

Shares of ABB Ltd closed at $28.07 yesterday.

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