JP Morgan Chase & Co. Reports That They Have Downgraded ABB (VTX:ABBN) Shares


ABB (VTX:ABBN) Receives a Downgrade

In analysts report revealed to investors and clients on 15 December, JP Morgan Chase & Co. has just cut their rating for ABB (VTX:ABBN) shares 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 5.88% above today’s (€17.51) stock price. ABB was the topic of 19 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. JP Morgan downgraded shares on December 5 to “Underweight” rating. JP Morgan downgraded shares to “Underweight” rating and €17.75 target share price in a report from an October 23. S&P Research maintained ABBN stock in a recent report from October 22 with “Hold” rating. UBS downgraded the rating on September 19. UBS has a “Sell” rating and a €18 price target on shares. Finally, UBS downgraded the stock to “Sell” rating in a report issued on an October 3.

The stock decreased 0.91% or EUR 0.16 on December 14, striking EUR 17.51. Approximately 7.45 million shares of stock traded hands or 9.08% up from the average. ABB Ltd. (VTX:ABBN) has declined 14.63% since May 18, 2015 and is downtrending. It has underperformed by 10.21% the S&P500.

JP Morgan Chase & Co. Reports That They Have Downgraded ABB (VTX:ABBN) Shares

ABB Ltd is engaged in power and automation technologies. The company has a market cap of 40.53 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 16.66 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.