ABB (NYSE:ABBNY) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of ABB (NYSE:ABBNY) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on the stock. Evercore ISI began coverage on shares of ABB in a research report on Monday, December 15th. They set a “hold” rating on the stock. Zacks Research lowered shares of ABB from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Finally, BNP Paribas began coverage on shares of ABB in a research report on Tuesday, September 30th. They issued an “underperform” rating and a $58.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, ABB presently has a consensus rating of “Hold” and an average price target of $58.00.

ABB Price Performance

ABBNY opened at $75.25 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 0.99 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $138.75 billion, a P/E ratio of 35.50, a PEG ratio of 2.48 and a beta of 1.23. The stock has a 50-day moving average price of $72.39 and a 200-day moving average price of $69.34. ABB has a 12-month low of $45.36 and a 12-month high of $77.50.

About ABB

ABB Ltd. is a global engineering and technology company headquartered in Zürich, Switzerland, with roots dating to the 1988 merger of ASEA and Brown, Boveri & Cie. The company develops and supplies technologies that enable electrification, automation and digitalization across utility, industrial, transportation and infrastructure markets. ABB’s offerings span hardware, software and services designed to improve efficiency, reliability and sustainability for its customers.

ABB’s principal activities include electrification products and systems for power distribution and management; industrial and factory automation solutions; robotics and discrete automation for manufacturing; and motion technologies including electric motors and drives.