Deutsche Bank Upgrades ABB Ltd (ABB) to Buy

Deutsche Bank upgraded ABB Ltd (NYSE: ABB) to Buy. PT raised from CHF23 to CHF27.

Deutsche analyst says, "We think improved order intake and signs of stability in pricing will mean Q1'11 will mark an inflection point for ABB. Longer term returns will be driven by ABB's success is in defending its #1 position in power from new competition, but nearer term we think a cyclical rebound skews near term earnings risk meaningfully to the upside. With longer cycle markets that typically lag the IP cycle by around a year now set to improve, and the potential for cost plans to overcompensate for pricing headwinds into H2'11, we upgrade to Buy."

For more ratings news on ABB Ltd click here and for the rating history of ABB Ltd click here.

Shares of ABB Ltd closed at $26.58 yesterday.

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