ABB: shares up after broker's comments.
(CercleFinance.com) - ABB shares are up almost 3% in Zurich on Tuesday, representing the sharpest riser on the SMI index, after a broker made positive comments on the stock.
Indeed, Barclays Capital has raised its target price on the stock to 30 Swiss francs after the share reached its previous price target, seeing "further upside to the story."
"Many of the company's late-cycle end markets have yet to fully recover and the benefits from the repositioning of power grids should only start to become visible next year," BarCap said.
ABB shares are currently up 2.8% at 25.9 Swiss francs, from a previous close of 25.2 Swiss Francs on the SIX Swiss Exchange.
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