Goldman Sachs analyst Daniela Costa downgraded ABB (ABBNY) to Neutral from Buy with a CHF 52 price target The firm says the stock’s valuation no longer screens as attractive following the recent outperformance, noting that its previous Buy rating was predicated on the view that ABB would outperform the sector on organic growth due to medium voltage and process automation exposure and that its high ROIC and margin opportunity were underappreciated by the market. After strong margin improvement over the past four years, the stock has re-rated from a 1% discount to the sector to a 34% premium, the analyst tells investors in a research note.
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Read More on ABBNY:
- ABB downgraded to Neutral from Buy at Goldman Sachs
- ABB downgraded to Hold from Buy at DNB Markets
- ABBNY Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- ABB downgraded to Underperform from Market Perform at Handelsbanken
- ABB price target raised to CHF 49 from CHF 48 at Citi
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