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ABB Ltd (NYSE:ABB)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Friday. They currently have a $24.00 target price on the stock. Zacks‘s target price indicates a potential upside of 4.26% from the company’s current price.

Zacks’ analyst wrote, “ABB is a leading power and automation technology supplier. We are maintaining our Neutral recommendation on the company with a target price of $24.00. The company had reported weak fourth-quarter 2014 earnings owing to sluggishness in the power systems (PS) business. However, even amid the present macroeconomic uncertainty, the company continues to receive orders in key sectors. This power and automation bellwether also benefited from the execution of its strong backlog and improved demand from earlier-cycle projects in the quarter. Moreover, the company’s ongoing initiatives in improving its cash flow generation, cost containment and stabilization of its PS business bode well going forward.”

A number of other analysts have also recently weighed in on ABB. Analysts at Bank of America downgraded shares of ABB Ltd from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 30th. Separately, analysts at RBC Capital downgraded shares of ABB Ltd from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, April 30th. Finally, analysts at William Blair downgraded shares of ABB Ltd from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 29th. They now have a $23.00 price target on the stock, down previously from $27.00. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.78.

ABB Ltd (NYSE:ABB) traded up 0.39% on Friday, hitting $23.02. The stock had a trading volume of 2,097,964 shares. ABB Ltd has a 52-week low of $21.31 and a 52-week high of $27.25. The stock’s 50-day moving average is $23. and its 200-day moving average is $24.85. The company has a market cap of $52.974 billion and a price-to-earnings ratio of 19.77.

ABB Ltd (NYSE:ABB) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.34 by $0.10. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.77 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts predict that ABB Ltd will post $1.25 earnings per share for the current fiscal year.

ABB Ltd (NYSE:ABB) is a Switzerland-based company engaged in the electrical engineering industry.

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