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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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.