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ABB Ltd. (ABB) - Bear Of The Day
By Zacks Investment Research on April 8, 2009 | More Posts By Zacks Investment Research | Author's Website
ABB Ltd. (ABB) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact.
The global economic growth - coupled with the attendant demand for power and automation - that stimulated investment in new and expanded plants over the last 12 to 24 months is expected to decline to some degree during 2009, which is cause of concern for ABB.
Even with ABB’s impressive menu of offerings, we remain somewhat cautious with respect to the possibilities for the next year, as there are significant economic uncertainties - both political and economic - on the horizon. Consequently, we have decided to downgrade ABB to a SELL and have adjusted our target price to reflect the current market environment.
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