JP Morgan Chase & Co. Hits ABB (VTX:ABBN) Hard With Today’s Downgrade


ABB (VTX:ABBN) Receives a Downgrade

The past rating for shares of ABB (VTX:ABBN) is now invalid as JP Morgan Chase & Co. has cut ABB (VTX:ABBN)’s stock rating to a “Underweight”.

From a total of 8 analysts covering ABB (VTX:ABBN) stock, 1 rate it a ”Buy”, 3 a “Sell”, and 4 a ”Hold”. This means that 13% of the ratings are positive. The highest target price is €22 while the lowest target price is €15.10. The mean of all analyst targets is €18.54 with a -0.32% below today’s (€18.6) stock price. ABB was the topic of 18 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs downgraded shares on December 4 to “Sell” rating. UBS downgraded shares to “Sell” rating and €18 target share price in a report from a September 19. S&P Research maintained ABBN stock in a recent report from October 22 with “Hold” rating. Credit Suisse maintained the rating on September 8. Credit Suisse has a “Neutral” rating and a €19 price target on shares. Finally, UBS downgraded the stock to “Sell” rating in a report issued on an October 3.

The stock decreased 1.01% or EUR 0.19 on December 4, striking EUR 18.6. Approximately 9.27M shares of stock traded hands or 39.61% up from the average. ABB Ltd. (VTX:ABBN) has declined 8.78% since May 8, 2015 and is downtrending. It has underperformed by 6.00% the S&P500.

JP Morgan Chase & Co. Hits ABB (VTX:ABBN) Hard With Today’s Downgrade

ABB Ltd is engaged in power and automation technologies. The company has a market cap of 41.99 billion EUR. The Firm manages its business on five divisions: Discrete Automation and Motion, Low Voltage Products, Process Automation, Power Products and Power Systems. It has 17.6 P/E ratio. The Discrete Automation and Motion division provides low-voltage and medium-voltage drive products and systems for industrial, commercial and residential applications.