ABB India: UBS upgrades to 'buy', sets Street-high target

ABB India

12/06/2023 08:23

** UBS upgrades ABB India to "buy" from "neutral" and raises
price target to a Street-high 5,000 rupees
    ** ABB India shares  ABB.NS  off 0.2% at 4,141.70 rupees,
just shy of all-time high of 4,162.85 rupees hit on May 31
    ** UBS says short-cycle demand for ABB's industrial products
stronger than expected and sees further operating margin growth
    ** UBS remain bullish on industrial automation and
low-voltage electrification demand
    ** The avg rating of the 28 analysts covering ABB is "hold",
while their median PT is 3,688 rupees - Refinitiv data
    ** ABB has surged in May after strong Q4 results at start of
the month; stock up 54% YTD, incl a 21% jump in May

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))