• Return to Headlines

Upgrade Alert for ABB (ABB)

By David Diaz

ABB (NYSE:ABB) was upgraded from Underperform to Outperform at Exane BNP Paribas today. The stock closed yesterday at $22.07 on volume of 2.8 million shares, above average daily volume of 1.7 million.

In the past 52 weeks, shares of ABB have traded between a low of $15.74 and a high of $23.66 and closed yesterday at $22.07, which is 40% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has remained constant.

ABB Limited provides power and automation technologies. The Company operates under segments that include power products, power systems, automation products, process automation and robotics.

ABB (NYSE:ABB) is currently priced 13.5% above its average consensus analyst price target of $19.08. The stock should find initial support at its 50-day moving average (MA) of $19.43 and further support at its 200-day MA of $18.60.

SmarTrend recommended that subscribers consider buying shares of ABB on July 21st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $20.74. Since that recommendation, shares of ABB have risen 4.5%. We continue to monitor ABB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades

Ticker(s): ABB