ABB 3Q: Mixed Results, Shares Fairly Valued
We will be tweaking our forecasts downwards on ABB following a mixed third quarter but do not expect our changes to materially affect our USD 25.40 and CHF 25 fair value estimates. We retain our wide moat rating. Our forecasts for the full year were on the high end of consensus coming into the quarter, and our forecast changes will partly stem from a lower foreign exchange benefit, but more importantly from weaker underlying growth in the company's ailing power grids segment. While the latter be...ABB specializes in power and automation technologies. Co. provides a broad range of products, systems, solutions and services that are designed to boost industrial productivity, increase power grid reliability, and enhance energy efficiency. Co.'s automation businesses serve a full range of industries with process optimization, control, measurement and protection applications. Co.'s power businesses focus on power transmission, distribution and power-plant automation, and support electric, gas and water utilities, as well as industrial and commercial customers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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