ABB: Morgan Stanley downgrades to 'equal-weight'
(CercleFinance.com) - Morgan Stanley has downgraded its rating on Switzerland's ABB to "equal-weight" from "overweight", citing the need to take a break after a "solid" first half.
The brokerage firm - which keeps its target price at 25 Swiss francs -says while ABB shares have performed well so far this year, the engineering group's second-quarter raised questions "that may take some time to dissipate."
"We see the risk-reward as fairly balanced now, and we note that ABB has rerated significantly versus Schneider and Siemens," Morgan Stanley points out in a report.
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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.
The brokerage firm - which keeps its target price at 25 Swiss francs -says while ABB shares have performed well so far this year, the engineering group's second-quarter raised questions "that may take some time to dissipate."
"We see the risk-reward as fairly balanced now, and we note that ABB has rerated significantly versus Schneider and Siemens," Morgan Stanley points out in a report.
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.